Robeco Institutional Asset Management B.V. Lowers Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Robeco Institutional Asset Management B.V. lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 55.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 362,671 shares of the software maker's stock after selling 451,974 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.13% of Cadence Design Systems worth $988,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CDNS. NorthRock Partners LLC grew its position in shares of Cadence Design Systems by 86.9% during the 4th quarter. NorthRock Partners LLC now owns 1,835 shares of the software maker's stock valued at $500,000 after acquiring an additional 853 shares during the period. New Century Financial Group LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at $458,000. Kingsview Wealth Management LLC lifted its stake in shares of Cadence Design Systems by 2.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,500 shares of the software maker's stock valued at $2,043,000 after buying an additional 204 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Cadence Design Systems by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 3,270 shares of the software maker's stock valued at $891,000 after buying an additional 161 shares in the last quarter. Finally, Legacy Capital Group California Inc. lifted its stake in shares of Cadence Design Systems by 11.1% during the 4th quarter. Legacy Capital Group California Inc. now owns 989 shares of the software maker's stock valued at $269,000 after buying an additional 99 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS traded down $0.41 during midday trading on Friday, hitting $294.28. 956,698 shares of the company traded hands, compared to its average volume of 1,524,865. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 76.74, a PEG ratio of 3.58 and a beta of 1.06. Cadence Design Systems, Inc. has a 52-week low of $208.50 and a 52-week high of $327.36. The business has a 50 day simple moving average of $296.33 and a two-hundred day simple moving average of $286.78.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.02 earnings per share. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the transaction, the senior vice president now directly owns 20,480 shares of the company's stock, valued at $5,639,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cadence Design Systems news, Director James D. Plummer sold 2,412 shares of Cadence Design Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $315.40, for a total transaction of $760,744.80. Following the completion of the sale, the director now directly owns 22,923 shares in the company, valued at $7,229,914.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the sale, the senior vice president now owns 20,480 shares of the company's stock, valued at $5,639,372.80. The disclosure for this sale can be found here. Insiders have sold 109,298 shares of company stock valued at $33,247,394 over the last ninety days. Company insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research analyst reports. Rosenblatt Securities reiterated a "neutral" rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Monday, April 22nd. KeyCorp boosted their target price on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. Piper Sandler reduced their target price on shares of Cadence Design Systems from $334.00 to $318.00 and set a "neutral" rating on the stock in a report on Tuesday, April 23rd. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an "outperform" rating in a report on Thursday, April 18th. Finally, Morgan Stanley upgraded shares of Cadence Design Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $326.11.

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.