Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Bought by Tamar Securities LLC

Tamar Securities LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,743 shares of the software maker’s stock after acquiring an additional 5,110 shares during the period. Cadence Design Systems makes up 3.6% of Tamar Securities LLC’s portfolio, making the stock its 8th biggest position. Tamar Securities LLC’s holdings in Cadence Design Systems were worth $25,762,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock worth $689,472,000 after purchasing an additional 572,251 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Cadence Design Systems by 33.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker’s stock valued at $547,886,000 after acquiring an additional 501,833 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new position in Cadence Design Systems in the 3rd quarter worth approximately $129,285,000. Sumitomo Mitsui Trust Group Inc. grew its position in Cadence Design Systems by 48.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares in the last quarter. Finally, Impax Asset Management Group plc raised its stake in Cadence Design Systems by 20.9% during the 3rd quarter. Impax Asset Management Group plc now owns 1,374,531 shares of the software maker’s stock valued at $371,719,000 after purchasing an additional 237,495 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $289.87 on Tuesday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $306.14 and a 200 day moving average price of $284.89. The firm has a market capitalization of $79.50 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 3.70 and a beta of 1.04. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. Cadence Design Systems’s quarterly revenue was up 18.8% on a year-over-year basis. Research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on CDNS. Wells Fargo & Company began coverage on Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price objective for the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Mizuho increased their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Redburn Atlantic started coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They set a “buy” rating and a $350.00 price target on the stock. Finally, Berenberg Bank started coverage on Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $329.50.

Insider Activity

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total value of $179,400.00. Following the transaction, the vice president now directly owns 61,111 shares of the company’s stock, valued at $16,866,636. The trade was a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the sale, the vice president now directly owns 14,318 shares of the company’s stock, valued at $4,378,158.04. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,416 shares of company stock worth $33,528,267. Corporate insiders own 1.99% of the company’s stock.

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.