Nvwm LLC Has $1.53 Million Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nvwm LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,911 shares of the software maker’s stock after purchasing an additional 110 shares during the period. Nvwm LLC’s holdings in Cadence Design Systems were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Cadence Design Systems in the 4th quarter worth about $1,141,059,000. Nordea Investment Management AB raised its holdings in shares of Cadence Design Systems by 124.8% in the 4th quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock worth $515,995,000 after acquiring an additional 1,052,228 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Cadence Design Systems by 143.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker’s stock worth $383,062,000 after acquiring an additional 962,987 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Cadence Design Systems by 58.1% in the 1st quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock worth $396,470,000 after acquiring an additional 468,195 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Cadence Design Systems by 6.9% in the 1st quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock worth $2,205,582,000 after acquiring an additional 459,603 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded up $1.60 on Friday, reaching $315.67. 1,098,565 shares of the company traded hands, compared to its average volume of 1,349,753. Cadence Design Systems, Inc. has a 52 week low of $217.77 and a 52 week high of $328.99. The company has a 50 day moving average of $301.84 and a 200 day moving average of $296.79. The firm has a market capitalization of $85.99 billion, a PE ratio of 82.21, a PEG ratio of 3.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. Cadence Design Systems’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current year.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of analyst reports. KeyCorp upped their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $322.00 to $341.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday, April 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $318.00 price objective on shares of Cadence Design Systems in a research report on Wednesday. Finally, StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $334.89.

Insider Activity at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 32,184 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $297.45, for a total transaction of $9,573,130.80. Following the sale, the vice president now directly owns 95,408 shares in the company, valued at approximately $28,379,109.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $307.75, for a total value of $184,650.00. Following the sale, the senior vice president now directly owns 19,280 shares in the company, valued at approximately $5,933,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chin-Chi Teng sold 32,184 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total transaction of $9,573,130.80. Following the completion of the sale, the vice president now owns 95,408 shares in the company, valued at $28,379,109.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,134 shares of company stock worth $14,978,483. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Company 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.