Cadence Design Systems Inc (NASDAQ:CDNS)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $45.77 and last traded at $45.75, with a volume of 560997 shares changing hands. The stock had previously closed at $45.60.

A number of brokerages recently issued reports on CDNS. BidaskClub lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. DA Davidson increased their target price 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, Needham & Company LLC restated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.50.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. The firm has a market cap of $12,910.00, a PE ratio of 49.57, a price-to-earnings-growth ratio of 3.74 and a beta of 0.94.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The company had revenue of $485.40 million during the quarter, compared to analyst estimates of $481.10 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts anticipate that Cadence Design Systems Inc will post 1.06 earnings per share for the current year.

In other Cadence Design Systems news, VP Aneel Zaman sold 32,255 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the completion of the sale, the vice president now directly owns 217,497 shares of the company’s stock, valued at $9,639,467.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Wall sold 750 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. Following the sale, the chief financial officer now directly owns 110,823 shares of the company’s stock, valued at $4,857,372.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,500 shares of company stock valued at $15,440,828. Insiders own 2.55% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CDNS. Janus Henderson Group PLC lifted its stake in Cadence Design Systems by 73,454.0% during the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock valued at $693,303,000 after buying an additional 20,673,635 shares in the last quarter. APG Asset Management N.V. lifted its stake in Cadence Design Systems by 20,049.7% during the third quarter. APG Asset Management N.V. now owns 3,667,241 shares of the software maker’s stock valued at $144,746,000 after buying an additional 3,649,041 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Cadence Design Systems by 88.3% during the third quarter. Canada Pension Plan Investment Board now owns 2,941,000 shares of the software maker’s stock valued at $116,081,000 after buying an additional 1,378,800 shares in the last quarter. Koch Industries Inc. lifted its stake in Cadence Design Systems by 10,354.0% during the second quarter. Koch Industries Inc. now owns 1,024,180 shares of the software maker’s stock valued at $994,000 after buying an additional 1,014,383 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Cadence Design Systems by 29.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,782,819 shares of the software maker’s stock valued at $93,197,000 after buying an additional 630,554 shares in the last quarter. 84.53% of the stock is owned by institutional investors.

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About Cadence Design Systems

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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