Cadence Design Systems, Inc. (NASDAQ:CDNS) Stake Increased by Values First Advisors Inc.

Values First Advisors Inc. lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 349.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,878 shares of the software maker’s stock after acquiring an additional 2,237 shares during the quarter. Values First Advisors Inc.’s holdings in Cadence Design Systems were worth $865,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co bought a new stake in shares of Cadence Design Systems during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems in the 3rd quarter valued at about $28,000. Versant Capital Management Inc increased its stake in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after buying an additional 87 shares during the period. Finally, Prestige Wealth Management Group LLC raised its position in shares of Cadence Design Systems by 56.6% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after buying an additional 60 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 0.6 %

NASDAQ CDNS opened at $303.87 on Wednesday. The firm’s 50 day moving average price is $304.31 and its two-hundred day moving average price is $285.81. The stock has a market cap of $83.34 billion, a price-to-earnings ratio of 79.76, a PEG ratio of 3.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99.

Analyst Ratings Changes

Several brokerages recently commented on CDNS. Loop Capital initiated coverage on Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 target price on the stock. Berenberg Bank began coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective for the company. Mizuho lifted their target price on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $306.19, for a total value of $199,023.50. Following the completion of the sale, the vice president now owns 60,461 shares of the company’s stock, valued at $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Scannell sold 3,171 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the transaction, the vice president now directly owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,416 shares of company stock worth $33,538,875. 1.99% of the stock is owned by company insiders.

About Cadence Design Systems

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.