SBI Securities Co. Ltd. Has $1.64 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

SBI Securities Co. Ltd. decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,455 shares of the software maker's stock after selling 5,070 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Cadence Design Systems were worth $1,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Smallwood Wealth Investment Management LLC bought a new position in Cadence Design Systems in the 1st quarter worth about $25,000. Valley National Advisers Inc. grew its position in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares during the last quarter. Ancora Advisors LLC grew its position in Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after purchasing an additional 112 shares during the last quarter. Avalon Trust Co bought a new position in Cadence Design Systems in the 4th quarter worth about $39,000. Finally, Bartlett & CO. Wealth Management LLC grew its position in Cadence Design Systems by 147.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 183 shares of the software maker's stock worth $47,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Trading Up 2.0%

Cadence Design Systems stock traded up $6.28 during midday trading on Thursday, reaching $320.86. The stock had a trading volume of 1,275,781 shares, compared to its average volume of 2,038,828. The firm's fifty day simple moving average is $308.36 and its two-hundred day simple moving average is $287.75. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $330.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 2.90. The firm has a market cap of $87.61 billion, a price-to-earnings ratio of 81.23, a PEG ratio of 4.41 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $1.17 EPS. The company's revenue was up 23.1% compared to the same quarter last year. Equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent analyst reports. Mizuho increased their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Needham & Company LLC reiterated a "buy" rating and issued a $325.00 price objective on shares of Cadence Design Systems in a report on Tuesday, May 13th. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Finally, KeyCorp restated an "overweight" rating and set a $358.00 target price (up from $340.00) on shares of Cadence Design Systems in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.07.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction 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 transaction, the vice president owned 105,499 shares in the company, valued at approximately $32,319,618.65. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the transaction, the director owned 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,975 shares of company stock worth $6,114,587. Insiders own 1.99% 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.