Mirabella Financial Services LLP Invests $1.18 Million in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mirabella Financial Services LLP acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,080 shares of the software maker's stock, valued at approximately $1,184,000.

Several other institutional investors and hedge funds have also modified their holdings of CDNS. Mirova grew its holdings in shares of Cadence Design Systems by 90.0% during the fourth quarter. Mirova now owns 12,564 shares of the software maker's stock worth $3,775,000 after purchasing an additional 5,951 shares during the last quarter. MML Investors Services LLC grew its position in shares of Cadence Design Systems by 3.7% in the 4th quarter. MML Investors Services LLC now owns 76,748 shares of the software maker's stock valued at $23,060,000 after buying an additional 2,770 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Cadence Design Systems by 1.2% in the fourth quarter. MetLife Investment Management LLC now owns 84,579 shares of the software maker's stock valued at $25,413,000 after buying an additional 988 shares during the period. Natixis raised its position in shares of Cadence Design Systems by 345.3% during the fourth quarter. Natixis now owns 127,480 shares of the software maker's stock worth $38,303,000 after acquiring an additional 98,853 shares during the last quarter. Finally, Ostrum Asset Management lifted its stake in shares of Cadence Design Systems by 9.3% in the fourth quarter. Ostrum Asset Management now owns 1,059 shares of the software maker's stock worth $318,000 after acquiring an additional 90 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent analyst reports. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $280.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Oppenheimer decreased their target price on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a research note on Wednesday, March 19th. Loop Capital cut their target price on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Redburn Atlantic started coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They set a "buy" rating and a $350.00 price objective on the stock. Finally, Bank of America lowered their target price on Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.00.

Cadence Design Systems Stock Performance

NASDAQ:CDNS traded up $7.85 during trading on Friday, reaching $289.63. The company's stock had a trading volume of 2,413,889 shares, compared to its average volume of 1,932,291. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99. The firm has a 50 day moving average of $254.54 and a 200-day moving average of $282.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The firm has a market cap of $79.45 billion, a price-to-earnings ratio of 75.03, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the transaction, the vice president now owns 58,123 shares of the company's stock, valued at approximately $14,689,425.79. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,950 shares of company stock worth $518,499. Corporate 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.