Cadence Design Systems, Inc. $CDNS Shares Acquired by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 563,511 shares of the software maker’s stock after acquiring an additional 71,571 shares during the period. Cadence Design Systems accounts for approximately 5.6% of Stonehage Fleming Financial Services Holdings Ltd’s portfolio, making the stock its 8th biggest position. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Cadence Design Systems were worth $197,939,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barrett & Company Inc. acquired a new position in Cadence Design Systems in the 2nd quarter valued at about $31,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $32,000. Promus Capital LLC purchased a new stake in shares of Cadence Design Systems during the 2nd quarter valued at approximately $33,000. Robbins Farley acquired a new position in Cadence Design Systems in the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Rosenblatt Securities increased their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a research report on Monday, December 22nd. Finally, Citigroup assumed coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $379.59.

Insiders Place Their Bets

In related news, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $315.70, for a total value of $315,700.00. Following the transaction, the vice president directly owned 96,067 shares of the company’s stock, valued at $30,328,351.90. The trade was a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,025 shares of company stock valued at $20,369,946. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Trading Down 1.1%

Shares of CDNS stock opened at $318.37 on Wednesday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a 50 day moving average price of $317.69 and a 200 day moving average price of $333.37. The stock has a market capitalization of $86.66 billion, a P/E ratio of 82.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 EPS. Equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.