Strategic Advisors LLC Purchases 151 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Strategic Advisors LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,800 shares of the software maker’s stock after purchasing an additional 151 shares during the quarter. Strategic Advisors LLC’s holdings in Cadence Design Systems were worth $2,344,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CDNS. Missouri Trust & Investment Co bought a new position in Cadence Design Systems in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems in the third quarter valued at $28,000. Golden State Wealth Management LLC bought a new position in Cadence Design Systems in the fourth quarter valued at $28,000. Versant Capital Management Inc increased its stake in Cadence Design Systems by 164.2% in the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after acquiring an additional 87 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its stake in Cadence Design Systems by 56.6% in the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock valued at $45,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the transaction, the vice president now directly owns 58,773 shares of the company’s stock, valued at $17,180,523.36. This represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the transaction, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,538,875 over the last three months. Corporate insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CDNS shares. Robert W. Baird increased their target price on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Mizuho upped 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 report on Friday, December 13th. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Needham & Company LLC cut their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Loop Capital began coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $326.08.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $295.19 on Monday. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The firm has a market cap of $80.96 billion, a P/E ratio of 77.48, a P/E/G ratio of 3.50 and a beta of 1.03. The firm has a 50-day moving average of $303.30 and a 200-day moving average of $286.43. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54.

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.