Mizuho Securities USA LLC Purchases 8,238 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mizuho Securities USA LLC raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 46.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,994 shares of the software maker's stock after purchasing an additional 8,238 shares during the quarter. Mizuho Securities USA LLC's holdings in Cadence Design Systems were worth $7,810,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Swedbank AB lifted its position in shares of Cadence Design Systems by 15.1% in the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker's stock worth $475,336,000 after acquiring an additional 230,672 shares during the period. Principal Financial Group Inc. boosted its stake in Cadence Design Systems by 33.0% during the third quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker's stock worth $547,886,000 after buying an additional 501,833 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in Cadence Design Systems by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,463 shares of the software maker's stock valued at $1,210,000 after buying an additional 141 shares during the period. Intech Investment Management LLC raised its stake in shares of Cadence Design Systems by 3.7% in the 3rd quarter. Intech Investment Management LLC now owns 14,166 shares of the software maker's stock valued at $3,839,000 after buying an additional 499 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of Cadence Design Systems by 5.9% during the 3rd quarter. Raymond James Trust N.A. now owns 5,083 shares of the software maker's stock valued at $1,378,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Oppenheimer reduced their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 19th. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Redburn Atlantic assumed coverage on Cadence Design Systems in a report on Monday, January 13th. They issued a "buy" rating and a $350.00 target price on the stock. Finally, Loop Capital dropped their price target on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $324.83.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $252.73, for a total value of $164,274.50. Following the sale, the vice president now directly owns 58,123 shares of the company's stock, valued at $14,689,425.79. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anirudh Devgan sold 93,151 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the transaction, the chief executive officer now directly owns 55,874 shares of the company's stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,021 shares of company stock valued at $31,229,155 in the last ninety days. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $0.87 during trading on Thursday, reaching $262.54. The company's stock had a trading volume of 1,349,771 shares, compared to its average volume of 1,807,734. Cadence Design Systems, Inc. has a 52 week low of $230.09 and a 52 week high of $328.99. The firm has a market cap of $71.96 billion, a PE ratio of 68.02, a P/E/G ratio of 3.88 and a beta of 1.05. The business's 50-day moving average price is $276.25 and its 200-day moving average price is $284.31. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.33). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.