Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 79.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,741 shares of the software maker’s stock after purchasing an additional 8,743 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Cadence Design Systems were worth $5,067,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Cadence Design Systems by 2.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker’s stock worth $1,894,000 after purchasing an additional 163 shares during the period. Blair William & Co. IL lifted its stake in shares of Cadence Design Systems by 14.0% in the 4th quarter. Blair William & Co. IL now owns 5,181 shares of the software maker’s stock valued at $1,557,000 after purchasing an additional 636 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Cadence Design Systems by 0.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,549 shares of the software maker’s stock worth $5,273,000 after purchasing an additional 165 shares during the period. Finally, Level Four Advisory Services LLC acquired a new stake in Cadence Design Systems during the 4th quarter worth approximately $364,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDNS shares. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. KeyCorp restated an “overweight” rating and set a $358.00 target price (up previously from $340.00) on shares of Cadence Design Systems in a report on Thursday, July 10th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Loop Capital raised their price objective on Cadence Design Systems from $340.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.57.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the transaction, the director directly owned 8,010 shares of the company’s stock, valued at $2,435,040. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $306.35, for a total transaction of $306,350.00. Following the completion of the sale, the vice president directly owned 105,499 shares of the company’s stock, valued at $32,319,618.65. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,795 shares of company stock valued at $6,065,087. Corporate insiders own 0.37% of the company’s stock.

Cadence Design Systems Stock Up 2.3%

Shares of NASDAQ CDNS opened at $332.19 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 3.07. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $335.16. The stock’s 50-day simple moving average is $309.39 and its 200-day simple moving average is $288.53. The firm has a market cap of $90.70 billion, a price-to-earnings ratio of 84.10, a PEG ratio of 4.62 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm earned $1.17 EPS. Cadence Design Systems’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.