BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in Cadence Design Systems, Inc. $CDNS

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 66.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,570 shares of the software maker’s stock after buying an additional 8,631 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cadence Design Systems were worth $7,577,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CDNS. Vanguard Group Inc. raised its stake in shares of Cadence Design Systems by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after buying an additional 256,719 shares during the period. State Street Corp increased its holdings in Cadence Design Systems by 1.4% in the 2nd quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock worth $3,795,972,000 after acquiring an additional 172,551 shares in the last quarter. Jennison Associates LLC increased its holdings in Cadence Design Systems by 3.0% in the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after acquiring an additional 273,149 shares in the last quarter. Geode Capital Management LLC raised its position in Cadence Design Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after acquiring an additional 77,478 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Cadence Design Systems by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $270.14 on Friday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The stock has a market cap of $73.53 billion, a PE ratio of 69.62, a P/E/G ratio of 3.03 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a 50 day moving average price of $315.46 and a 200 day moving average price of $331.74.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total value of $295,090.00. Following the transaction, the vice president owned 95,137 shares of the company’s stock, valued at $28,073,977.33. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the sale, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 56,475 shares of company stock valued at $18,505,486. 1.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Monday, December 22nd. JPMorgan Chase & Co. increased their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Wolfe Research reiterated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities raised their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $379.59.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.