MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $97.09 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,107 shares of the software maker's stock after acquiring an additional 12,991 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.12% of Cadence Design Systems worth $97,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MJP Associates Inc. ADV raised its stake in shares of Cadence Design Systems by 6.3% during the 4th quarter. MJP Associates Inc. ADV now owns 2,733 shares of the software maker's stock worth $821,000 after buying an additional 163 shares during the last quarter. Mmbg Investment Advisors CO. lifted its holdings in shares of Cadence Design Systems by 28.3% in the fourth quarter. Mmbg Investment Advisors CO. now owns 2,493 shares of the software maker's stock valued at $749,000 after purchasing an additional 550 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Cadence Design Systems by 5.1% in the fourth quarter. Lazard Asset Management LLC now owns 560,704 shares of the software maker's stock valued at $168,468,000 after purchasing an additional 27,148 shares in the last quarter. Light Street Capital Management LLC purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $234,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Cadence Design Systems by 12.7% in the fourth quarter. Janus Henderson Group PLC now owns 2,530,293 shares of the software maker's stock valued at $760,314,000 after purchasing an additional 285,617 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CDNS. Bank of America upped 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. StockNews.com downgraded shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Oppenheimer reduced their price objective on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 19th. Mizuho upped their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Loop Capital reduced their price objective 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $325.23.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction 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 owns 108,799 shares of the company's stock, valued at approximately $27,486,979.36. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 4,710 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,413,000.00. Following the completion of the transaction, the vice president now directly owns 28,442 shares in the company, valued at approximately $8,532,600. This trade represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,577 shares of company stock valued at $5,316,411. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems Trading Up 0.9%

NASDAQ:CDNS traded up $2.79 during trading hours on Friday, reaching $321.56. 1,574,219 shares of the company were exchanged, compared to its average volume of 1,973,130. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The firm has a market cap of $87.80 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $328.99. The stock has a 50 day simple moving average of $270.41 and a 200 day simple moving average of $286.29.

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 (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.07. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The business's quarterly revenue was up 23.1% compared to the same quarter last year. As a group, analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.