Tamar Securities LLC Purchases 5,110 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Tamar Securities LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.3% in the fourth quarter, Holdings Channel.com reports. 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 comprises approximately 3.6% of Tamar Securities LLC’s portfolio, making the stock its 8th largest holding. Tamar Securities LLC’s holdings in Cadence Design Systems were worth $25,762,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CDNS. Susquehanna Fundamental Investments LLC acquired a new stake in Cadence Design Systems during the 2nd quarter worth $1,914,000. Creative Planning increased its holdings in shares of Cadence Design Systems by 9.3% in the second quarter. Creative Planning now owns 44,351 shares of the software maker’s stock worth $13,649,000 after acquiring an additional 3,771 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Cadence Design Systems by 17.4% during the 2nd quarter. NewEdge Advisors LLC now owns 29,885 shares of the software maker’s stock valued at $9,197,000 after purchasing an additional 4,434 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Cadence Design Systems by 5.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 27,929 shares of the software maker’s stock valued at $8,595,000 after purchasing an additional 1,523 shares during the period. Finally, Quarry LP increased its stake in Cadence Design Systems by 1,177.1% during the 2nd quarter. Quarry LP now owns 447 shares of the software maker’s stock worth $138,000 after purchasing an additional 412 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDNS has been the subject of a number of research analyst reports. Loop Capital began coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. Robert W. Baird increased their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC cut their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Finally, Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $329.50.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction 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 owns 61,111 shares in the company, valued at approximately $16,866,636. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Scannell sold 3,171 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock worth $33,528,267 in the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $289.87 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The firm has a market cap of $79.50 billion, a price-to-earnings ratio of 76.08, a P/E/G ratio of 3.70 and a beta of 1.04. The stock’s fifty day moving average price is $306.14 and its two-hundred day moving average price is $284.89. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99.

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

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.