International Assets Investment Management LLC Has $346,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

International Assets Investment Management LLC grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 60.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,359 shares of the software maker’s stock after buying an additional 511 shares during the period. International Assets Investment Management LLC’s holdings in Cadence Design Systems were worth $346,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Accredited Investors Inc. boosted its stake in Cadence Design Systems by 1.7% during the fourth quarter. Accredited Investors Inc. now owns 2,176 shares of the software maker’s stock worth $654,000 after acquiring an additional 36 shares in the last quarter. Principal Street Partners LLC lifted its holdings in shares of Cadence Design Systems by 2.6% in the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker’s stock worth $437,000 after purchasing an additional 37 shares in the last quarter. Lindbrook Capital LLC grew its position in Cadence Design Systems by 1.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker’s stock valued at $670,000 after purchasing an additional 38 shares during the period. Oarsman Capital Inc. increased its stake in Cadence Design Systems by 3.8% during the 4th quarter. Oarsman Capital Inc. now owns 1,042 shares of the software maker’s stock valued at $313,000 after purchasing an additional 38 shares in the last quarter. Finally, Cohen & Steers Inc. raised its holdings in Cadence Design Systems by 5.7% during the fourth quarter. Cohen & Steers Inc. now owns 774 shares of the software maker’s stock worth $233,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDNS shares. Mizuho raised their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Bank of America raised their price target on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. KeyCorp boosted their price objective on Cadence Design Systems from $355.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities raised their target price on Cadence Design Systems from $295.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.23.

Cadence Design Systems Stock Performance

CDNS stock opened at $305.20 on Friday. The business has a 50 day moving average of $300.72 and a 200-day moving average of $286.65. The firm has a market cap of $83.33 billion, a PE ratio of 77.27, a P/E/G ratio of 4.21 and a beta of 0.98. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $326.19. The company has a quick ratio of 2.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.52.

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

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 10,737 shares of Cadence Design Systems stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $310.00, for a total value of $3,328,470.00. Following the sale, the chief executive officer now owns 209,548 shares of the company’s stock, valued at approximately $64,959,880. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $302.00, for a total value of $302,000.00. Following the completion of the transaction, the vice president now owns 106,499 shares in the company, valued at approximately $32,162,698. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,625 shares of company stock worth $5,972,453. 1.99% of the stock is owned by company insiders.

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.