Gateway Investment Advisers LLC lifted its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 224.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 411,004 shares of the software maker’s stock after purchasing an additional 284,417 shares during the quarter. Gateway Investment Advisers LLC owned about 0.15% of Cadence Design Systems worth $17,188,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Cadence Design Systems by 43,079.2% in the fourth quarter. National Pension Service now owns 339,820 shares of the software maker’s stock valued at $14,211,000 after acquiring an additional 339,033 shares during the last quarter. Convergence Investment Partners LLC bought a new position in Cadence Design Systems in the fourth quarter valued at $415,000. Nisa Investment Advisors LLC increased its stake in Cadence Design Systems by 4.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 87,222 shares of the software maker’s stock valued at $3,648,000 after acquiring an additional 3,609 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Cadence Design Systems in the fourth quarter valued at $611,000. Finally, Parametric Portfolio Associates LLC increased its stake in Cadence Design Systems by 4.1% in the third quarter. Parametric Portfolio Associates LLC now owns 706,097 shares of the software maker’s stock valued at $27,870,000 after acquiring an additional 27,800 shares during the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cadence Design Systems Inc (NASDAQ:CDNS) opened at $44.94 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. Cadence Design Systems Inc has a 1 year low of $25.62 and a 1 year high of $45.64. The stock has a market cap of $12,666.67, a PE ratio of 48.32, a price-to-earnings-growth ratio of 3.68 and a beta of 0.94.
In other news, Director John B. Shoven sold 50,000 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $45.00, for a total transaction of $2,250,000.00. Following the completion of the sale, the director now directly owns 196,189 shares in the company, valued at $8,828,505. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lip Bu Tan sold 25,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total transaction of $1,117,250.00. Following the sale, the chief executive officer now owns 458,333 shares of the company’s stock, valued at $20,482,901.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 350,500 shares of company stock valued at $15,440,828. 2.55% of the stock is currently owned by company insiders.
Several analysts have issued reports on CDNS shares. BidaskClub lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Royal Bank of Canada upped their price target on shares of Cadence Design Systems from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 11th. DA Davidson upped their price target on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cadence Design Systems has a consensus rating of “Hold” and a consensus price target of $44.50.
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Cadence Design Systems Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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