Asset Management One Co. Ltd. Has $29.97 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Asset Management One Co. Ltd. grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 117,846 shares of the software maker's stock after purchasing an additional 7,788 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Cadence Design Systems were worth $29,972,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after acquiring an additional 676 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in shares of Cadence Design Systems by 2.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock valued at $1,894,000 after buying an additional 163 shares in the last quarter. D.A. Davidson & CO. boosted its position in Cadence Design Systems by 77.3% during the fourth quarter. D.A. Davidson & CO. now owns 2,915 shares of the software maker's stock valued at $876,000 after purchasing an additional 1,271 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Cadence Design Systems by 13.7% during the fourth quarter. Concurrent Investment Advisors LLC now owns 1,004 shares of the software maker's stock valued at $302,000 after purchasing an additional 121 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in Cadence Design Systems by 17.2% during the fourth quarter. Sigma Planning Corp now owns 2,370 shares of the software maker's stock valued at $712,000 after purchasing an additional 348 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total value of $164,216.00. Following the transaction, the vice president now directly owns 108,799 shares of the company's stock, valued at $27,486,979.36. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $275.00, for a total value of $49,500.00. Following the completion of the transaction, the director now directly owns 7,411 shares in the company, valued at $2,038,025. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,625 shares of company stock valued at $5,972,453 in the last three months. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

NASDAQ CDNS traded up $6.16 during trading on Thursday, reaching $303.69. 2,122,100 shares of the company traded hands, compared to its average volume of 2,017,477. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 3.07. The stock's 50 day moving average price is $298.96 and its two-hundred day moving average price is $286.68. The company has a market cap of $82.92 billion, a price-to-earnings ratio of 76.88, a P/E/G ratio of 4.11 and a beta of 0.98. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $326.19.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.07. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. The company's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 earnings per share. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDNS. Rosenblatt Securities boosted their price target on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded Cadence Design Systems from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $300.00 to $325.00 in a research note on Thursday, April 24th. Bank of America boosted their price target on Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and set a $325.00 price target on shares of Cadence Design Systems in a research note on Tuesday, May 13th. Finally, Mizuho boosted their price target on Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $325.23.

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.