Cambridge Investment Research Advisors Inc. Has $1.79 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.9% in the fourth quarter, HoldingsChannel reports. The firm owned 13,138 shares of the software maker’s stock after selling 1,602 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Cadence Design Systems were worth $1,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CDNS. Amundi Pioneer Asset Management Inc. increased its holdings in Cadence Design Systems by 31.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 293,032 shares of the software maker’s stock valued at $18,610,000 after purchasing an additional 69,373 shares in the last quarter. Regentatlantic Capital LLC acquired a new stake in Cadence Design Systems during the 3rd quarter valued at $300,000. Avantax Advisory Services Inc. acquired a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $248,000. Vestmark Advisory Solutions Inc. increased its stake in shares of Cadence Design Systems by 9.9% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 3,149 shares of the software maker’s stock valued at $336,000 after buying an additional 284 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Cadence Design Systems by 1.7% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 30,948 shares of the software maker’s stock valued at $3,300,000 after buying an additional 525 shares during the period. 83.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Cadence Design Systems stock opened at $139.66 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. Cadence Design Systems, Inc. has a 12 month low of $51.39 and a 12 month high of $149.08. The business has a fifty day simple moving average of $136.76 and a 200 day simple moving average of $119.08. The stock has a market cap of $38.96 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 4.64 and a beta of 1.05.

CDNS has been the subject of several research reports. JPMorgan Chase & Co. raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research note on Wednesday, December 9th. Bank of America cut Cadence Design Systems from a “buy” rating to an “underperform” rating in a research note on Monday, January 11th. KeyCorp lifted their target price on Cadence Design Systems from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Cadence Design Systems currently has an average rating of “Buy” and an average price target of $120.92.

In other Cadence Design Systems news, President Anirudh Devgan sold 4,666 shares of Cadence Design Systems stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $137.44, for a total transaction of $641,295.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $147.09, for a total value of $7,354,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,300 shares of company stock valued at $21,171,858. 2.58% of the stock is owned by insiders.

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 emulation platform; and Protium, a prototyping platform for chip verification.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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