Signaturefd LLC Grows Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Signaturefd LLC raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Rating) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,375 shares of the software maker’s stock after buying an additional 1,227 shares during the quarter. Signaturefd LLC’s holdings in Cadence Design Systems were worth $2,022,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. SeaCrest Wealth Management LLC purchased a new stake in shares of Cadence Design Systems in the second quarter valued at about $29,000. American National Bank purchased a new stake in shares of Cadence Design Systems in the third quarter valued at about $33,000. Zions Bancorporation N.A. grew its holdings in shares of Cadence Design Systems by 108.3% in the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after purchasing an additional 117 shares during the period. Private Trust Co. NA purchased a new stake in shares of Cadence Design Systems in the second quarter valued at about $35,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Cadence Design Systems by 252.9% in the second quarter. GHP Investment Advisors Inc. now owns 247 shares of the software maker’s stock valued at $37,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDNS. StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Sunday. Rosenblatt Securities decreased their target price on shares of Cadence Design Systems from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 target price on shares of Cadence Design Systems in a research report on Wednesday, October 26th. Robert W. Baird upped their target price on shares of Cadence Design Systems to $206.00 in a research report on Wednesday, December 14th. Finally, Atlantic Securities raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $200.00 target price on the stock in a research report on Tuesday, January 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.50.

Insider Transactions at Cadence Design Systems

In other news, VP Karna Nisewaner sold 1,000 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $180.00, for a total transaction of $180,000.00. Following the sale, the vice president now owns 15,793 shares of the company’s stock, valued at $2,842,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Karna Nisewaner sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $180.00, for a total value of $180,000.00. Following the sale, the vice president now owns 15,793 shares of the company’s stock, valued at $2,842,740. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lip Bu Tan sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $162.66, for a total transaction of $6,506,400.00. Following the completion of the sale, the insider now directly owns 996,936 shares in the company, valued at approximately $162,161,609.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,250 shares of company stock valued at $22,415,385. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Down 0.2 %

Shares of CDNS traded down $0.35 during mid-day trading on Wednesday, hitting $182.48. 133,476 shares of the company’s stock were exchanged, compared to its average volume of 1,334,880. The company has a market cap of $50.06 billion, a price-to-earnings ratio of 64.38, a P/E/G ratio of 2.45 and a beta of 1.10. Cadence Design Systems, Inc. has a fifty-two week low of $132.32 and a fifty-two week high of $194.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33. The stock’s 50-day moving average is $167.79 and its 200-day moving average is $167.60.

Cadence Design Systems Company Profile

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Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: Americas, Asia, Europe, Middle East and Africa, and Japan.