E. Ohman J or Asset Management AB Acquires 1,200 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

E. Ohman J or Asset Management AB grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,400 shares of the software maker’s stock after buying an additional 1,200 shares during the period. E. Ohman J or Asset Management AB’s holdings in Cadence Design Systems were worth $3,726,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Avior Wealth Management LLC grew its holdings in Cadence Design Systems by 12.4% in the fourth quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock worth $98,000 after purchasing an additional 36 shares during the period. Dudley Capital Management LLC boosted its position in shares of Cadence Design Systems by 4.3% during the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock worth $257,000 after purchasing an additional 39 shares in the last quarter. Trust Point Inc. grew its stake in shares of Cadence Design Systems by 2.9% in the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after buying an additional 40 shares during the period. Falcon Wealth Planning increased its position in Cadence Design Systems by 5.1% in the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock valued at $222,000 after buying an additional 40 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Cadence Design Systems by 0.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDNS shares. Robert W. Baird boosted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Mizuho boosted their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Redburn Atlantic began coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price for the company. Finally, Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $329.50.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 4,224 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total transaction of $1,305,342.72. Following the completion of the transaction, the chief financial officer now owns 29,248 shares in the company, valued at $9,038,509.44. This trade represents a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anirudh Devgan sold 93,151 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares in the company, valued at approximately $17,320,940. This trade represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,766 shares of company stock valued at $33,348,867 in the last three months. Company insiders own 0.62% of the company’s stock.

Cadence Design Systems Price Performance

CDNS opened at $298.30 on Tuesday. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The firm has a 50-day moving average of $305.30 and a 200 day moving average of $284.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The firm has a market cap of $81.81 billion, a P/E ratio of 78.29, a PEG ratio of 3.42 and a beta of 1.03.

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.