Robeco Institutional Asset Management B.V. Boosts Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Robeco Institutional Asset Management B.V. raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 66.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 529,287 shares of the software maker’s stock after acquiring an additional 210,349 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Cadence Design Systems were worth $159,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDNS. Susquehanna Fundamental Investments LLC purchased a new position in Cadence Design Systems during the second quarter valued at $1,914,000. Creative Planning lifted its holdings in Cadence Design Systems by 9.3% during the second quarter. Creative Planning now owns 44,351 shares of the software maker’s stock valued at $13,649,000 after purchasing an additional 3,771 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Cadence Design Systems by 17.4% in the second quarter. NewEdge Advisors LLC now owns 29,885 shares of the software maker’s stock valued at $9,197,000 after buying an additional 4,434 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cadence Design Systems by 5.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,929 shares of the software maker’s stock valued at $8,595,000 after buying an additional 1,523 shares during the last quarter. Finally, Quarry LP raised its position in shares of Cadence Design Systems by 1,177.1% in the second quarter. Quarry LP now owns 447 shares of the software maker’s stock valued at $138,000 after buying an additional 412 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Paul Scannell sold 3,171 shares of Cadence Design Systems stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the completion of the transaction, the vice president now owns 14,318 shares in the company, valued at $4,378,158.04. The trade was a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the completion of the transaction, the vice president now owns 60,461 shares of the company’s stock, valued at $18,512,553.59. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,416 shares of company stock valued at $33,528,267. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

Shares of CDNS opened at $299.30 on Wednesday. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The stock has a market cap of $82.09 billion, a PE ratio of 78.56, a P/E/G ratio of 3.70 and a beta of 1.04. The firm has a 50-day simple moving average of $306.05 and a two-hundred day simple moving average of $284.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDNS. Redburn Atlantic began coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They issued a “buy” rating and a $350.00 target price for the company. Needham & Company LLC reduced their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Robert W. Baird increased their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

Cadence Design Systems 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.