7,379 Cadence Design Systems, Inc. $CDNS Shares Purchased by Tamar Securities LLC

Tamar Securities LLC boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.5% in the third quarter, HoldingsChannel.com reports. The firm owned 66,595 shares of the software maker’s stock after acquiring an additional 7,379 shares during the period. Cadence Design Systems accounts for approximately 2.0% of Tamar Securities LLC’s investment portfolio, making the stock its 22nd biggest holding. Tamar Securities LLC’s holdings in Cadence Design Systems were worth $21,989,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in shares of Cadence Design Systems by 19.1% during the 3rd quarter. Alps Advisors Inc. now owns 5,343 shares of the software maker’s stock worth $1,764,000 after purchasing an additional 856 shares during the period. International Assets Investment Management LLC grew its stake in Cadence Design Systems by 10.2% during the 3rd quarter. International Assets Investment Management LLC now owns 864 shares of the software maker’s stock worth $303,000 after buying an additional 80 shares during the last quarter. Heritage Family Offices LLP increased its position in Cadence Design Systems by 5.3% in the third quarter. Heritage Family Offices LLP now owns 636 shares of the software maker’s stock worth $210,000 after buying an additional 32 shares during the period. Liberty Capital Management Inc. increased its position in Cadence Design Systems by 4.7% in the third quarter. Liberty Capital Management Inc. now owns 11,172 shares of the software maker’s stock worth $3,689,000 after buying an additional 506 shares during the period. Finally, Alta Advisers Ltd lifted its stake in Cadence Design Systems by 83.3% in the third quarter. Alta Advisers Ltd now owns 1,967 shares of the software maker’s stock valued at $649,000 after buying an additional 894 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of Cadence Design Systems from $410.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America increased their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Needham & Company LLC boosted their price target on shares of Cadence Design Systems from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $410.05.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president owned 31,720 shares in the company, valued at $10,753,080. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $350.07, for a total value of $437,587.50. Following the completion of the transaction, the director directly owned 39,544 shares in the company, valued at approximately $13,843,168.08. The trade was a 3.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,960 shares of company stock worth $2,834,139 in the last quarter. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS traded up $8.49 during midday trading on Friday, reaching $319.92. The stock had a trading volume of 2,034,548 shares, compared to its average volume of 2,384,238. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.18. The firm’s 50 day moving average price is $319.83 and its 200-day moving average price is $327.44. The company has a market capitalization of $87.78 billion, a P/E ratio of 63.60, a P/E/G ratio of 3.12 and a beta of 1.10.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 26th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Cadence Design Systems had a net margin of 22.51% and a return on equity of 26.56%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the company posted $1.93 earnings per share. On average, analysts forecast that Cadence Design Systems, Inc. will post 6.71 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc develops software, hardware and intellectual property used to design and verify semiconductors and electronic systems. Its electronic design automation (EDA) tools help customers plan, build, test and analyze complex chips and circuit boards.

The company also offers semiconductor intellectual property and hardware platforms for design prototyping and verification, as well as software for system analysis, including computational fluid dynamics and electromagnetic simulation.