Asset Management One Co. Ltd. Sells 6,092 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Asset Management One Co. Ltd. reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,296 shares of the software maker's stock after selling 6,092 shares during the period. Asset Management One Co. Ltd.'s holdings in Cadence Design Systems were worth $29,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDNS. RiverPark Advisors LLC purchased a new position in shares of Cadence Design Systems in the first quarter worth $26,000. ORG Partners LLC boosted its stake in Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Chilton Capital Management LLC raised its position in Cadence Design Systems by 244.0% in the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker's stock worth $53,000 after buying an additional 122 shares during the last quarter. Larson Financial Group LLC grew its position in Cadence Design Systems by 159.7% in the 2nd quarter. Larson Financial Group LLC now owns 200 shares of the software maker's stock worth $62,000 after purchasing an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cadence Design Systems in the second quarter worth approximately $69,000. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Karna Nisewaner sold 1,213 shares of Cadence Design Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $279.49, for a total transaction of $339,021.37. Following the completion of the transaction, the senior vice president now directly owns 17,617 shares of the company's stock, valued at approximately $4,923,775.33. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John M. Wall sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the transaction, the chief financial officer now directly owns 38,654 shares of the company's stock, valued at approximately $10,278,485.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,347 shares of company stock worth $7,734,616 over the last 90 days. Company insiders own 0.62% of the company's stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded up $1.87 during mid-day trading on Tuesday, reaching $291.21. The company had a trading volume of 1,964,326 shares, compared to its average volume of 1,779,266. The firm has a market cap of $79.87 billion, a price-to-earnings ratio of 76.43, a PEG ratio of 3.45 and a beta of 1.02. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $268.05 and its 200-day moving average price is $281.74. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm's revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the topic of several research reports. Piper Sandler raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and set a $318.00 target price on the stock in a report on Tuesday, August 6th. Robert W. Baird upped their target price on Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Mizuho assumed coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They set an "outperform" rating and a $325.00 price objective for the company. Needham & Company LLC cut their price target on Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $323.17.

Cadence Design Systems Company 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.