Edmond DE Rothschild Holding S.A. Has $7.38 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Edmond DE Rothschild Holding S.A. grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNSFree Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,105 shares of the software maker’s stock after acquiring an additional 2,640 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Cadence Design Systems were worth $7,383,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Valley National Advisers Inc. increased its stake in shares of Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after buying an additional 47 shares during the period. Fortitude Family Office LLC bought a new stake in Cadence Design Systems in the fourth quarter valued at approximately $28,000. Union Savings Bank bought a new stake in Cadence Design Systems in the fourth quarter valued at approximately $33,000. Rakuten Securities Inc. bought a new stake in Cadence Design Systems in the fourth quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Cadence Design Systems by 34.7% in the third quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock valued at $47,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $309.16, for a total value of $463,740.00. Following the completion of the sale, the director now directly owns 51,683 shares of the company’s stock, valued at approximately $15,978,316.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $309.16, for a total value of $463,740.00. Following the completion of the sale, the director now directly owns 51,683 shares of the company’s stock, valued at approximately $15,978,316.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James D. Plummer sold 2,412 shares of Cadence Design Systems stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $315.40, for a total value of $760,744.80. Following the sale, the director now owns 22,923 shares in the company, valued at $7,229,914.20. The disclosure for this sale can be found here. In the last three months, insiders sold 106,637 shares of company stock valued at $32,438,716. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

CDNS has been the topic of several analyst reports. KeyCorp upped their target price on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. Piper Sandler cut their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Stifel Nicolaus increased their price target on Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $326.11.

Check Out Our Latest Analysis on CDNS

Cadence Design Systems Stock Up 0.4 %

Shares of CDNS traded up $1.05 during trading hours on Tuesday, reaching $295.33. The stock had a trading volume of 653,231 shares, compared to its average volume of 1,516,219. Cadence Design Systems, Inc. has a 12 month low of $217.77 and a 12 month high of $327.36. The firm has a 50-day simple moving average of $296.11 and a 200 day simple moving average of $287.80. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $80.37 billion, a price-to-earnings ratio of 76.64, a P/E/G ratio of 3.60 and a beta of 1.06.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last issued its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping 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 return on equity of 32.44% and a net margin of 25.68%. Cadence Design Systems’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.02 EPS. Equities research analysts predict that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current fiscal year.

Cadence Design Systems Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.