Daiwa Securities Group Inc. Has $20.28 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Daiwa Securities Group Inc. lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,439 shares of the software maker’s stock after acquiring an additional 2,446 shares during the period. Daiwa Securities Group Inc.’s holdings in Cadence Design Systems were worth $20,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rakuten Securities Inc. acquired a new stake in Cadence Design Systems in the 4th quarter worth $45,000. Slow Capital Inc. lifted its stake in shares of Cadence Design Systems by 0.7% in the fourth quarter. Slow Capital Inc. now owns 9,515 shares of the software maker’s stock valued at $2,592,000 after buying an additional 66 shares during the period. Everence Capital Management Inc. grew its position in Cadence Design Systems by 10.4% during the fourth quarter. Everence Capital Management Inc. now owns 12,964 shares of the software maker’s stock worth $3,531,000 after buying an additional 1,220 shares in the last quarter. Guerra Pan Advisors LLC bought a new position in Cadence Design Systems during the fourth quarter valued at about $2,057,000. Finally, SVB Wealth LLC raised its holdings in Cadence Design Systems by 5.8% in the 4th quarter. SVB Wealth LLC now owns 7,173 shares of the software maker’s stock valued at $1,954,000 after acquiring an additional 391 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $293.52 on Thursday. The stock has a market capitalization of $79.91 billion, a P/E ratio of 76.89, a price-to-earnings-growth ratio of 3.65 and a beta of 1.04. Cadence Design Systems, Inc. has a 1 year low of $194.01 and a 1 year high of $327.36. The firm has a 50 day moving average of $306.58 and a 200-day moving average of $279.35. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.09.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.05. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $300.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now owns 54,683 shares in the company, valued at approximately $16,404,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Vincentelli Albert Sangiovanni sold 4,500 shares of Cadence Design Systems stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $300.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 54,683 shares in the company, valued at $16,404,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the sale, the vice president now owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The disclosure for this sale can be found here. Insiders have sold a total of 177,544 shares of company stock worth $53,581,207 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

CDNS has been the topic of a number of research reports. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley upgraded shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $260.00 to $350.00 in a research report on Wednesday, February 14th. Piper Sandler assumed coverage on shares of Cadence Design Systems in a research report on Thursday, April 4th. They issued a “neutral” rating and a $334.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $318.10.

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.