Nissay Asset Management Corp Japan ADV Sells 858 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nissay Asset Management Corp Japan ADV cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNSFree Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,249 shares of the software maker’s stock after selling 858 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Cadence Design Systems were worth $8,246,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CDNS. AllSquare Wealth Management LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $27,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems in the first quarter valued at approximately $30,000. ST Germain D J Co. Inc. purchased a new stake in Cadence Design Systems in the fourth quarter valued at approximately $32,000. AdvisorNet Financial Inc boosted its position in Cadence Design Systems by 70.5% in the first quarter. AdvisorNet Financial Inc now owns 150 shares of the software maker’s stock valued at $32,000 after buying an additional 62 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in Cadence Design Systems in the first quarter valued at approximately $32,000. 83.95% 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 8,800 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $230.23, for a total value of $2,026,024.00. Following the transaction, the director now owns 70,683 shares in the company, valued at approximately $16,273,347.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 8,800 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $230.23, for a total value of $2,026,024.00. Following the transaction, the director now owns 70,683 shares in the company, valued at approximately $16,273,347.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Aneel Zaman sold 1,207 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $231.86, for a total value of $279,855.02. Following the completion of the transaction, the vice president now owns 66,080 shares in the company, valued at approximately $15,321,308.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,369 shares of company stock valued at $18,383,272. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $237.99 on Monday. The company’s fifty day moving average price is $234.01 and its 200 day moving average price is $220.33. Cadence Design Systems, Inc. has a 1 year low of $138.76 and a 1 year high of $248.16. The stock has a market capitalization of $64.68 billion, a P/E ratio of 73.00, a P/E/G ratio of 3.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.26 and a current ratio of 1.37.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last released its quarterly earnings results on Monday, July 24th. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.04. Cadence Design Systems had a net margin of 23.41% and a return on equity of 33.79%. The firm had revenue of $977.00 million for the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CDNS. KeyCorp upped their target price on Cadence Design Systems from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $235.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 25th. Robert W. Baird upped their target price on Cadence Design Systems from $253.00 to $257.00 in a research report on Tuesday, July 25th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $210.00 to $300.00 in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.22.

View Our Latest Stock Report on Cadence Design Systems

Cadence Design Systems Profile

(Free Report)

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.

See Also

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

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