Mirae Asset Global Investments Co. Ltd. Buys 25,253 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,345 shares of the software maker’s stock after purchasing an additional 25,253 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cadence Design Systems were worth $29,152,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CDNS. RiverPark Advisors LLC bought a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $26,000. ORG Partners LLC lifted its position in Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Annapolis Financial Services LLC purchased a new position in Cadence Design Systems during the 1st quarter valued at about $32,000. Hollencrest Capital Management lifted its position in Cadence Design Systems by 637.5% during the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after acquiring an additional 102 shares during the period. Finally, Chilton Capital Management LLC lifted its position in Cadence Design Systems by 244.0% during the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a research report on Tuesday, August 6th. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price for the company. Mizuho started coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Finally, Oppenheimer started coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $323.42.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total value of $414,360.00. Following the completion of the sale, the director now directly owns 45,051 shares of the company’s stock, valued at $12,444,888.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now directly owns 65,194 shares of the company’s stock, valued at approximately $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,347 shares of company stock worth $7,728,272. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $257.30 on Friday. The firm has a 50 day moving average of $267.42 and a 200 day moving average of $282.69. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $70.45 billion, a price-to-earnings ratio of 66.49, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. Cadence Design Systems, Inc. has a 12-month low of $228.66 and a 12-month high of $328.99.

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.