International Assets Investment Management LLC Raises Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

International Assets Investment Management LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 19,643.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 226,852 shares of the software maker’s stock after purchasing an additional 225,703 shares during the period. International Assets Investment Management LLC’s holdings in Cadence Design Systems were worth $614,840,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CDNS. Monte Financial Group LLC bought a new stake in Cadence Design Systems in the third quarter valued at $476,000. Greenleaf Trust boosted its holdings in Cadence Design Systems by 8.0% in the third quarter. Greenleaf Trust now owns 6,012 shares of the software maker’s stock valued at $1,629,000 after acquiring an additional 445 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Cadence Design Systems by 37.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 2,504 shares of the software maker’s stock valued at $679,000 after acquiring an additional 676 shares in the last quarter. Liberty Capital Management Inc. boosted its holdings in Cadence Design Systems by 1.8% in the third quarter. Liberty Capital Management Inc. now owns 8,621 shares of the software maker’s stock valued at $2,337,000 after acquiring an additional 152 shares in the last quarter. Finally, GAM Holding AG boosted its holdings in Cadence Design Systems by 25.9% in the third quarter. GAM Holding AG now owns 23,217 shares of the software maker’s stock valued at $6,293,000 after acquiring an additional 4,776 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $266.24, for a total value of $173,056.00. Following the completion of the transaction, the vice president now owns 65,194 shares of the company’s stock, valued at approximately $17,357,250.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,347 shares of company stock valued at $7,728,272. 1.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CDNS has been the topic of several recent analyst reports. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target on the stock. Mizuho initiated coverage on shares of Cadence Design Systems in a report on Tuesday. They issued an “outperform” rating and a $325.00 price target on the stock. Piper Sandler upgraded shares of 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. KeyCorp boosted their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Robert W. Baird dropped their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.42.

Cadence Design Systems Price Performance

CDNS opened at $249.09 on Thursday. The stock has a 50-day moving average price of $268.47 and a 200-day moving average price of $283.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. The firm has a market cap of $67.86 billion, a PE ratio of 64.87, a P/E/G ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a 1 year low of $228.66 and a 1 year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. Cadence Design Systems’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. Sell-side analysts predict that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal 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.