Robeco Schweiz AG Has $6.34 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Robeco Schweiz AG trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 23.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,100 shares of the software maker’s stock after selling 6,400 shares during the period. Robeco Schweiz AG’s holdings in Cadence Design Systems were worth $6,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. Walter Public Investments Inc. lifted its stake in shares of Cadence Design Systems by 20.7% in the fourth quarter. Walter Public Investments Inc. now owns 66,798 shares of the software maker’s stock worth $20,070,000 after buying an additional 11,435 shares during the last quarter. Whipplewood Advisors LLC bought a new position in Cadence Design Systems in the 4th quarter worth $157,000. NewEdge Wealth LLC lifted its position in Cadence Design Systems by 5.0% during the 4th quarter. NewEdge Wealth LLC now owns 98,722 shares of the software maker’s stock worth $29,662,000 after acquiring an additional 4,739 shares during the last quarter. Simmons Bank lifted its position in Cadence Design Systems by 7.5% during the 4th quarter. Simmons Bank now owns 1,435 shares of the software maker’s stock worth $431,000 after acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Cadence Design Systems by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,492 shares of the software maker’s stock valued at $7,058,000 after acquiring an additional 86 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now directly owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anirudh Devgan sold 93,151 shares of Cadence Design Systems stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at $17,320,940. This trade represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock worth $33,538,875 in the last 90 days. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Rosenblatt Securities lifted their price objective on Cadence Design Systems from $280.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company started coverage on Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. Piper Sandler increased their price objective on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Mizuho boosted their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Bank of America cut their target price on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $326.92.

Cadence Design Systems Trading Up 2.2 %

Shares of CDNS stock opened at $254.38 on Thursday. The firm has a fifty day moving average of $297.15 and a 200-day moving average of $286.99. The stock has a market cap of $69.73 billion, a price-to-earnings ratio of 65.90, a P/E/G ratio of 3.88 and a beta of 1.03. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.