Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Toroso Investments LLC

Toroso Investments LLC boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Rating) by 84.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,941 shares of the software maker’s stock after purchasing an additional 7,277 shares during the period. Toroso Investments LLC’s holdings in Cadence Design Systems were worth $2,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Cadence Design Systems by 0.4% in the third quarter. State Street Corp now owns 11,221,528 shares of the software maker’s stock valued at $1,833,934,000 after purchasing an additional 45,444 shares during the period. FMR LLC lifted its position in Cadence Design Systems by 4.7% in the second quarter. FMR LLC now owns 10,344,233 shares of the software maker’s stock valued at $1,551,944,000 after purchasing an additional 462,306 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Cadence Design Systems by 98.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,419,304 shares of the software maker’s stock valued at $885,753,000 after purchasing an additional 2,685,677 shares during the period. Brown Advisory Inc. increased its holdings in Cadence Design Systems by 7.5% in the third quarter. Brown Advisory Inc. now owns 2,775,800 shares of the software maker’s stock valued at $453,649,000 after buying an additional 193,307 shares in the last quarter. Finally, Pictet Asset Management SA increased its holdings in Cadence Design Systems by 6.7% in the third quarter. Pictet Asset Management SA now owns 2,502,844 shares of the software maker’s stock valued at $408,944,000 after buying an additional 158,235 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Cadence Design Systems Stock Up 2.4 %

Shares of NASDAQ CDNS opened at $207.82 on Friday. Cadence Design Systems, Inc. has a 1 year low of $132.32 and a 1 year high of $209.28. The firm’s 50 day moving average price is $186.91 and its 200 day moving average price is $170.67. The firm has a market cap of $56.72 billion, a P/E ratio of 67.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.17 and a current ratio of 1.27.

Cadence Design Systems (NASDAQ:CDNS – Get Rating) last announced its earnings results on Monday, February 13th. The software maker reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cadence Design Systems had a net margin of 23.83% and a return on equity of 33.89%. The firm had revenue of $899.88 million for the quarter, compared to analyst estimates of $884.23 million. During the same quarter last year, the business earned $0.67 earnings per share. Cadence Design Systems’s revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 3.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CDNS shares. KeyCorp increased their target price on shares of Cadence Design Systems from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, February 14th. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. StockNews.com started coverage on shares of Cadence Design Systems in a report on Thursday. They issued a “buy” rating for the company. Needham & Company LLC increased their target price on shares of Cadence Design Systems from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Finally, Robert W. Baird increased their target price on shares of Cadence Design Systems from $206.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, February 14th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.55.

Insider Buying and Selling

In other Cadence Design Systems news, insider Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $164.55, for a total value of $6,582,000.00. Following the transaction, the insider now owns 956,936 shares in the company, valued at approximately $157,463,818.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cadence Design Systems news, insider Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $164.55, for a total value of $6,582,000.00. Following the transaction, the insider now owns 956,936 shares in the company, valued at approximately $157,463,818.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 37,260 shares of Cadence Design Systems stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $199.88, for a total transaction of $7,447,528.80. Following the completion of the transaction, the chief financial officer now owns 120,740 shares in the company, valued at approximately $24,133,511.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 244,376 shares of company stock worth $45,293,036. 1.99% of the stock is owned by insiders.

Cadence Design Systems Company Profile

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Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: United States, Other Americas, China, Other Asia, Europe, Middle East and Africa and Japan.