Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,462 shares of the software maker's stock after purchasing an additional 1,044 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Cadence Design Systems were worth $22,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Accredited Investors Inc. increased its stake in Cadence Design Systems by 1.7% in the 4th quarter. Accredited Investors Inc. now owns 2,176 shares of the software maker's stock valued at $654,000 after buying an additional 36 shares during the period. Principal Street Partners LLC grew its stake in Cadence Design Systems by 2.6% in the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after acquiring an additional 37 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Cadence Design Systems by 1.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker's stock valued at $670,000 after purchasing an additional 38 shares in the last quarter. Oarsman Capital Inc. lifted its holdings in Cadence Design Systems by 3.8% in the 4th quarter. Oarsman Capital Inc. now owns 1,042 shares of the software maker's stock valued at $313,000 after purchasing an additional 38 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Cadence Design Systems by 3.9% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker's stock valued at $285,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CDNS shares. Needham & Company LLC reiterated a "buy" rating and set a $325.00 price objective on shares of Cadence Design Systems in a report on Tuesday, May 13th. KeyCorp increased their price objective on shares of Cadence Design Systems from $355.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Bank of America increased their price objective on shares of Cadence Design Systems from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Robert W. Baird increased their target price on shares of Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average target price of $325.23.

Cadence Design Systems Stock Down 1.8%

NASDAQ:CDNS traded down $5.75 during trading hours on Monday, hitting $321.06. The stock had a trading volume of 792,647 shares, compared to its average volume of 2,027,012. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $330.09. The business has a 50 day simple moving average of $305.50 and a two-hundred day simple moving average of $286.72. The company has a market cap of $87.66 billion, a PE ratio of 81.17, a price-to-earnings-growth ratio of 4.53 and a beta of 0.99.

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

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $306.35, for a total transaction of $306,350.00. Following the completion of the sale, the vice president owned 105,499 shares of the company's stock, valued at approximately $32,319,618.65. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the sale, the director directly owned 8,010 shares of the company's stock, valued at $2,435,040. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,975 shares of company stock valued at $6,114,587. Corporate insiders own 0.37% of the company's stock.

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.