Qsemble Capital Management LP Takes Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Qsemble Capital Management LP purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,613 shares of the software maker’s stock, valued at approximately $1,250,000.

Other large investors have also recently added to or reduced their stakes in the company. Missouri Trust & Investment Co purchased a new position in shares of Cadence Design Systems in the third quarter valued at $27,000. ORG Partners LLC grew its stake in shares of Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Cadence Design Systems during the third quarter worth about $28,000. Chilton Capital Management LLC lifted its stake in shares of Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after acquiring an additional 122 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Cadence Design Systems by 30.3% in the third quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock valued at $55,000 after purchasing an additional 47 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDNS. Mizuho initiated coverage on Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price on the stock. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective for the company. Berenberg Bank initiated coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target for the company. Finally, Needham & Company LLC cut their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus target price of $326.00.

Insider Transactions at Cadence Design Systems

In other news, SVP Karna Nisewaner sold 659 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total value of $181,870.82. Following the completion of the sale, the senior vice president now owns 16,029 shares in the company, valued at $4,423,683.42. This represents a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $413,970.00. Following the completion of the sale, the director now owns 43,551 shares in the company, valued at approximately $12,019,204.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,634 shares of company stock valued at $1,558,535. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $310.10 on Wednesday. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $280.07 and its two-hundred day moving average is $283.98. The firm has a market capitalization of $85.05 billion, a P/E ratio of 81.39, a PEG ratio of 4.23 and a beta of 1.02. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

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.