Livforsakringsbolaget Skandia Omsesidigt Purchases 324 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 81.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 724 shares of the software maker’s stock after buying an additional 324 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cadence Design Systems were worth $197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highview Capital Management LLC DE increased its position in Cadence Design Systems by 0.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock worth $1,411,000 after acquiring an additional 39 shares during the period. BSW Wealth Partners boosted its position in shares of Cadence Design Systems by 2.8% during the 4th quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock worth $442,000 after acquiring an additional 44 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Cadence Design Systems by 2.5% during the 3rd quarter. Lindbrook Capital LLC now owns 1,844 shares of the software maker’s stock worth $432,000 after acquiring an additional 45 shares in the last quarter. Savant Capital LLC increased its stake in Cadence Design Systems by 2.7% in the third quarter. Savant Capital LLC now owns 1,733 shares of the software maker’s stock valued at $406,000 after acquiring an additional 45 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Cadence Design Systems by 9.0% during the third quarter. Advisors Asset Management Inc. now owns 545 shares of the software maker’s stock worth $128,000 after purchasing an additional 45 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the transaction, the director now owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the transaction, the vice president now owns 156,156 shares in the company, valued at $46,375,208.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.83, for a total transaction of $463,245.00. Following the sale, the director now owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The disclosure for this sale can be found here. Insiders have sold 177,544 shares of company stock valued at $53,581,207 over the last ninety days. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 2.7 %

CDNS stock opened at $285.90 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24. Cadence Design Systems, Inc. has a fifty-two week low of $194.01 and a fifty-two week high of $327.36. The stock’s 50 day simple moving average is $306.16 and its 200 day simple moving average is $279.39. The company has a market cap of $77.83 billion, a P/E ratio of 74.84, a price-to-earnings-growth ratio of 3.57 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $0.75 EPS. Cadence Design Systems’s quarterly revenue was up 18.8% on a year-over-year basis. On average, research analysts expect that Cadence Design Systems, Inc. will post 4.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CDNS. Rosenblatt Securities cut Cadence Design Systems from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $265.00 to $280.00 in a report on Tuesday, February 13th. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. KeyCorp upped their price objective on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.10.

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.