Nomura Asset Management Co. Ltd. Has $90.78 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nomura Asset Management Co. Ltd. boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,941 shares of the software maker's stock after purchasing an additional 51,073 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.12% of Cadence Design Systems worth $90,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Missouri Trust & Investment Co bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $27,000. ORG Partners LLC lifted its holdings in shares of Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker's stock valued at $28,000 after buying an additional 82 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Cadence Design Systems in the 3rd quarter valued at about $28,000. Chilton Capital Management LLC grew its stake in shares of 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 purchasing an additional 122 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in Cadence Design Systems by 30.3% in the third quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker's stock worth $55,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CDNS shares. Needham & Company LLC reduced their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Mizuho started 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. Berenberg Bank began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a "buy" rating and a $320.00 target price for the company. Wells Fargo & Company started coverage on Cadence Design Systems in a research report on Friday, November 22nd. They issued an "overweight" rating and a $350.00 price target on the stock. Finally, Loop Capital assumed coverage on Cadence Design Systems in a research note on Monday, November 11th. They set a "buy" rating and a $360.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $326.00.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $306.19, for a total value of $199,023.50. Following the completion of the transaction, the vice president now owns 60,461 shares of the company's stock, valued at $18,512,553.59. The trade was a 1.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,634 shares of company stock valued at $1,584,080. Company insiders own 0.62% of the company's stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded up $3.72 during trading hours on Monday, reaching $307.51. The stock had a trading volume of 1,797,650 shares, compared to its average volume of 1,488,024. The company has a market cap of $84.34 billion, a price-to-earnings ratio of 80.71, a PEG ratio of 4.17 and a beta of 1.03. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The business's fifty day moving average is $285.75 and its two-hundred day moving average is $285.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27.

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

About Cadence Design Systems

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.