Nvwm LLC Purchases 167 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nvwm LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,032 shares of the software maker’s stock after purchasing an additional 167 shares during the quarter. Nvwm LLC’s holdings in Cadence Design Systems were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CDNS. Nisa Investment Advisors LLC raised its position in shares of Cadence Design Systems by 132.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock worth $41,850,000 after acquiring an additional 79,268 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Cadence Design Systems by 48.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Cadence Design Systems in the 4th quarter worth approximately $6,046,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $24,026,000. Finally, Zhang Financial LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth $381,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.84, for a total transaction of $198,146.00. Following the completion of the transaction, the vice president now owns 59,311 shares of the company’s stock, valued at $18,080,365.24. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anirudh Devgan sold 5,920 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the sale, the chief executive officer now owns 55,874 shares in the company, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,766 shares of company stock valued at $33,348,867. 0.62% of the stock is owned by insiders.

Cadence Design Systems Trading Up 0.5 %

NASDAQ:CDNS opened at $299.67 on Wednesday. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99. The firm has a 50-day moving average price of $304.81 and a two-hundred day moving average price of $284.68. The firm has a market cap of $82.19 billion, a price-to-earnings ratio of 78.65, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target on the stock. StockNews.com upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company started coverage on shares of Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy 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 $329.50.

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.