International Assets Investment Management LLC Has $614.84 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

International Assets Investment Management LLC boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 19,643.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,852 shares of the software maker’s stock after buying an additional 225,703 shares during the period. International Assets Investment Management LLC owned approximately 0.08% of Cadence Design Systems worth $614,840,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CDNS. Vanguard Group Inc. raised its holdings in shares of Cadence Design Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,940,556 shares of the software maker’s stock valued at $7,763,496,000 after purchasing an additional 437,101 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Cadence Design Systems by 6.9% in the first quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock valued at $2,205,582,000 after purchasing an additional 459,603 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Cadence Design Systems by 1.8% in the second quarter. Legal & General Group Plc now owns 2,509,136 shares of the software maker’s stock valued at $772,187,000 after purchasing an additional 43,654 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems by 10.5% in the second quarter. Van ECK Associates Corp now owns 2,195,714 shares of the software maker’s stock valued at $675,731,000 after purchasing an additional 209,301 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Cadence Design Systems by 7.7% in the first quarter. Nordea Investment Management AB now owns 2,040,581 shares of the software maker’s stock valued at $636,172,000 after purchasing an additional 145,351 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 1.0 %

Shares of CDNS opened at $249.09 on Thursday. The firm’s 50 day simple moving average is $268.47 and its 200 day simple moving average is $283.48. The company has a market capitalization of $67.86 billion, a P/E ratio of 64.87, a P/E/G ratio of 3.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. 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 announced its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the transaction, the director now directly owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the transaction, the director now directly owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the transaction, the vice president now directly owns 65,194 shares in the company, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,347 shares of company stock valued at $7,728,272. 1.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CDNS has been the subject of several analyst reports. Oppenheimer initiated coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a research report on Tuesday, August 6th. KeyCorp increased their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird reduced their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $323.42.

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