GF Fund Management CO. LTD. Sells 1,675 Shares of Cadence Design Systems, Inc. $CDNS

GF Fund Management CO. LTD. reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,389 shares of the software maker’s stock after selling 1,675 shares during the quarter. GF Fund Management CO. LTD.’s holdings in Cadence Design Systems were worth $30,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CDNS. Strategic Wealth Investment Group LLC bought a new position in shares of Cadence Design Systems during the second quarter valued at about $32,000. Promus Capital LLC purchased a new position in Cadence Design Systems during the 2nd quarter valued at about $33,000. Robbins Farley bought a new position in Cadence Design Systems during the 3rd quarter valued at approximately $35,000. Cloud Capital Management LLC bought a new position in Cadence Design Systems during the 3rd quarter valued at approximately $35,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the transaction, the director directly owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,475 shares of company stock valued at $18,505,486 over the last ninety days. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $299.46 on Friday. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $81.51 billion, a P/E ratio of 77.18, a PEG ratio of 3.33 and a beta of 1.01. The stock’s 50 day moving average is $311.67 and its 200 day moving average is $330.15.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CDNS shares. Rosenblatt Securities upped their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $379.59.

Cadence Design Systems Company Profile

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.