Carmignac Gestion Has $108.06 Million Holdings in Cadence Design Systems, Inc. $CDNS

Carmignac Gestion raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 42.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 424,823 shares of the software maker’s stock after purchasing an additional 126,960 shares during the quarter. Cadence Design Systems accounts for 1.8% of Carmignac Gestion’s investment portfolio, making the stock its 20th largest holding. Carmignac Gestion’s holdings in Cadence Design Systems were worth $108,060,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Smallwood Wealth Investment Management LLC bought a new stake in shares of Cadence Design Systems during the first quarter worth approximately $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems in the first quarter valued at approximately $25,000. Valley National Advisers Inc. boosted its holdings in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after buying an additional 99 shares during the period. Ancora Advisors LLC boosted its holdings in shares of Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker’s stock valued at $36,000 after buying an additional 112 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Cadence Design Systems by 36.5% in the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker’s stock valued at $44,000 after buying an additional 46 shares during the period. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of the sale, the director owned 8,010 shares in the company, valued at $2,435,040. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the sale, the vice president owned 104,499 shares of the company’s stock, valued at $37,485,881.28. This trade represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,830 shares of company stock valued at $1,207,671 in the last quarter. 0.37% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $356.25 on Tuesday. The company has a fifty day moving average of $325.98 and a 200-day moving average of $294.43. The firm has a market capitalization of $97.07 billion, a P/E ratio of 96.28, a P/E/G ratio of 4.59 and a beta of 0.97. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. Cadence Design Systems’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Robert W. Baird increased their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Stifel Nicolaus increased their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $364.33.

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.