Mount Yale Investment Advisors LLC Has $247,000 Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mount Yale Investment Advisors LLC cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 50.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 913 shares of the software maker’s stock after selling 936 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Cadence Design Systems were worth $247,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CDNS. Swedbank AB bought a new stake in Cadence Design Systems during the first quarter worth about $439,988,000. Principal Financial Group Inc. lifted its holdings in shares of Cadence Design Systems by 280.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,519,661 shares of the software maker’s stock worth $467,676,000 after acquiring an additional 1,119,824 shares during the period. Meridiem Investment Management Ltd. acquired a new stake in shares of Cadence Design Systems during the 3rd quarter worth approximately $129,285,000. BNP Paribas Financial Markets raised its position in Cadence Design Systems by 58.1% during the first quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock valued at $396,470,000 after purchasing an additional 468,195 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Cadence Design Systems by 6.9% during the first quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock worth $2,205,582,000 after purchasing an additional 459,603 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Activity at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the transaction, the director now directly owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the sale, the director now owns 42,051 shares in the company, valued at $11,928,186.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,347 shares of company stock worth $7,728,272 over the last quarter. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.4 %

Shares of CDNS stock opened at $257.30 on Monday. Cadence Design Systems, Inc. has a 1-year low of $228.66 and a 1-year high of $328.99. 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 stock has a market cap of $70.09 billion, a price-to-earnings ratio of 67.01, a PEG ratio of 3.03 and a beta of 1.02. The stock has a 50-day moving average of $267.42 and a 200-day moving average of $282.53.

Analyst Ratings Changes

A number of research firms have recently commented on CDNS. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Monday, October 7th. 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. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Robert W. Baird cut their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $323.42.

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.