Nan Shan Life Insurance Co. Ltd. Makes New Investment in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nan Shan Life Insurance Co. Ltd. bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 189,300 shares of the software maker’s stock, valued at approximately $25,826,000. Nan Shan Life Insurance Co. Ltd. owned about 0.07% of Cadence Design Systems at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Catalyst Capital Advisors LLC bought a new position in shares of Cadence Design Systems during the 4th quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Avion Wealth bought a new position in shares of Cadence Design Systems during the 4th quarter valued at about $43,000. CX Institutional lifted its holdings in shares of Cadence Design Systems by 52.1% during the 4th quarter. CX Institutional now owns 365 shares of the software maker’s stock valued at $50,000 after purchasing an additional 125 shares in the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Cadence Design Systems during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.

Shares of NASDAQ:CDNS traded down $0.89 during trading on Tuesday, reaching $132.27. 76,352 shares of the company traded hands, compared to its average volume of 1,503,900. The company’s 50 day moving average is $136.95 and its two-hundred day moving average is $119.52. The firm has a market capitalization of $36.89 billion, a PE ratio of 34.59, a PEG ratio of 4.64 and a beta of 1.05. The company has a quick ratio of 1.51, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. Cadence Design Systems, Inc. has a 52 week low of $51.39 and a 52 week high of $149.08.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Sunday, February 21st. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $759.10 million during the quarter, compared to the consensus estimate of $731.31 million. Cadence Design Systems had a return on equity of 48.31% and a net margin of 42.68%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 2.02 EPS for the current year.

In related news, CEO Lip Bu Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $147.09, for a total transaction of $7,354,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vincentelli Albert Sangiovanni sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $115.54, for a total value of $2,888,500.00. Following the sale, the director now owns 105,290 shares of the company’s stock, valued at $12,165,206.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,300 shares of company stock valued at $21,171,858. Corporate insiders own 2.58% of the company’s stock.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 10th. Credit Suisse Group lifted their price objective on Cadence Design Systems from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Monday. KeyCorp boosted their target price on Cadence Design Systems from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 16th. Bank of America cut Cadence Design Systems from a “buy” rating to an “underperform” rating in a research note on Monday, January 11th. Finally, Needham & Company LLC boosted their target price on Cadence Design Systems from $126.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $131.92.

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 emulation platform; and Protium, a prototyping platform for chip verification.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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