Vise Technologies Inc. Has $1.44 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Vise Technologies Inc. increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 74.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,800 shares of the software maker's stock after purchasing an additional 2,045 shares during the period. Vise Technologies Inc.'s holdings in Cadence Design Systems were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Cadence Design Systems in the fourth quarter valued at $28,000. Ancora Advisors LLC raised its stake in Cadence Design Systems by 1,400.0% during the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth about $39,000. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems in the fourth quarter valued at approximately $46,000. Finally, Synergy Investment Management LLC bought a new position in Cadence Design Systems in the 4th quarter valued at $50,000. Institutional investors own 84.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CDNS. Wells Fargo & Company increased their target price on Cadence Design Systems from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. 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. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $300.00 to $325.00 in a research report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $325.00 target price on shares of Cadence Design Systems in a research report on Tuesday, May 13th. Finally, Bank of America raised their price target on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $325.23.

Cadence Design Systems Trading Up 1.2%

NASDAQ CDNS traded up $3.36 during trading hours on Thursday, hitting $291.97. The company's stock had a trading volume of 2,327,208 shares, compared to its average volume of 2,003,058. The stock has a fifty day moving average of $282.17 and a 200 day moving average of $287.85. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $79.72 billion, a P/E ratio of 75.41, a PEG ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The firm's quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James D. Plummer sold 868 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $319.95, for a total value of $277,716.60. Following the completion of the transaction, the director now owns 23,996 shares in the company, valued at $7,677,520.20. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anirudh Devgan sold 10,737 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $310.00, for a total transaction of $3,328,470.00. Following the sale, the chief executive officer now directly owns 209,548 shares of the company's stock, valued at $64,959,880. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,445 shares of company stock valued at $5,594,127 in the last ninety days. 1.99% of the stock is owned by insiders.

Cadence Design Systems Company 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.