Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Holdings Boosted by Mariner LLC

Mariner LLC boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,334 shares of the software maker’s stock after purchasing an additional 1,874 shares during the quarter. Mariner LLC’s holdings in Cadence Design Systems were worth $13,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Principal Financial Group Inc. raised its holdings in shares of Cadence Design Systems by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker’s stock valued at $672,300,000 after buying an additional 216,075 shares during the last quarter. Pittenger & Anderson Inc. raised its stake in Cadence Design Systems by 50.1% during the 4th quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker’s stock valued at $1,589,000 after acquiring an additional 1,766 shares in the last quarter. Meridiem Investment Management Ltd. boosted its position in Cadence Design Systems by 64.3% during the 4th quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker’s stock worth $235,625,000 after acquiring an additional 306,887 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Cadence Design Systems by 132.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock worth $41,850,000 after purchasing an additional 79,268 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at about $6,046,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CDNS shares. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They set a “buy” rating and a $350.00 target price on the stock. Loop Capital dropped their target price on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Oppenheimer decreased their price target on Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating for the company in a research note on Wednesday, March 19th. Robert W. Baird dropped their price objective on Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $320.67.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total transaction of $164,274.50. Following the completion of the sale, the vice president now owns 58,123 shares of the company’s stock, valued at $14,689,425.79. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 1,950 shares of company stock valued at $518,499. Corporate insiders own 0.37% of the company’s stock.

Cadence Design Systems Trading Up 0.4 %

NASDAQ CDNS opened at $260.22 on Friday. The firm’s 50 day moving average price is $258.10 and its two-hundred day moving average price is $282.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $328.99. The stock has a market cap of $71.38 billion, a price-to-earnings ratio of 67.41, a PEG ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.