Capital International Inc. CA Has $2.78 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Capital International Inc. CA lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 38.1% during the 4th quarter, Holdings Channel reports. The fund owned 9,264 shares of the software maker’s stock after acquiring an additional 2,557 shares during the quarter. Capital International Inc. CA’s holdings in Cadence Design Systems were worth $2,783,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CDNS. Vanguard Group Inc. boosted its stake in Cadence Design Systems by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,909,187 shares of the software maker’s stock worth $7,784,674,000 after purchasing an additional 201,340 shares in the last quarter. Jennison Associates LLC lifted its position in Cadence Design Systems by 5.3% during the 4th quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker’s stock worth $2,406,760,000 after buying an additional 404,076 shares in the last quarter. FMR LLC grew its holdings in Cadence Design Systems by 8.7% during the 4th quarter. FMR LLC now owns 7,978,652 shares of the software maker’s stock worth $2,397,266,000 after acquiring an additional 639,146 shares during the last quarter. Geode Capital Management LLC increased its position in Cadence Design Systems by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,021,405 shares of the software maker’s stock valued at $1,806,019,000 after acquiring an additional 135,251 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Cadence Design Systems by 12.5% in the fourth quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker’s stock worth $1,705,469,000 after acquiring an additional 632,175 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research reports. Rosenblatt Securities raised their price target on shares of Cadence Design Systems from $280.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Mizuho dropped their target price on Cadence Design Systems from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Piper Sandler raised their price target on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $320.67.

Cadence Design Systems Stock Up 0.4 %

Shares of NASDAQ CDNS opened at $260.22 on Monday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $328.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The stock has a market cap of $71.38 billion, a P/E ratio of 67.41, a P/E/G ratio of 3.88 and a beta of 1.14. The firm has a 50 day moving average price of $257.23 and a 200 day moving average price of $282.25.

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

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $252.73, for a total value of $164,274.50. Following the sale, the vice president now directly owns 58,123 shares in the company, valued at $14,689,425.79. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 1,950 shares of company stock worth $518,499 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

About Cadence Design Systems

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.