641 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Purchased by Values First Advisors Inc.

Values First Advisors Inc. bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 641 shares of the software maker’s stock, valued at approximately $174,000.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Cadence Design Systems by 223.8% in the first quarter. Empowered Funds LLC now owns 9,181 shares of the software maker’s stock valued at $2,858,000 after buying an additional 6,346 shares during the period. Norden Group LLC lifted its stake in shares of Cadence Design Systems by 1,659.3% in the 1st quarter. Norden Group LLC now owns 13,300 shares of the software maker’s stock valued at $4,140,000 after purchasing an additional 12,544 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Cadence Design Systems by 58.1% in the 1st 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 during the period. Park National Corp OH boosted its position in shares of Cadence Design Systems by 19.8% in the 2nd quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock worth $41,931,000 after purchasing an additional 22,537 shares during the last quarter. Finally, Teamwork Financial Advisors LLC grew its stake in shares of Cadence Design Systems by 40.0% during the first quarter. Teamwork Financial Advisors LLC now owns 35,151 shares of the software maker’s stock worth $10,942,000 after purchasing an additional 10,037 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Rosenblatt Securities restated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Monday, October 7th. Robert W. Baird reduced their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Mizuho started coverage on shares of Cadence Design Systems in a research note on Tuesday. They issued an “outperform” rating and a $325.00 target price for the company. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.42.

Cadence Design Systems Stock Performance

CDNS opened at $257.30 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. The company has a market capitalization of $70.09 billion, a price-to-earnings ratio of 67.01, a P/E/G ratio of 3.37 and a beta of 1.02. The business’s 50-day moving average price is $267.89 and its two-hundred day moving average price is $283.26. Cadence Design Systems, Inc. has a 1 year low of $228.66 and a 1 year high of $328.99.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the sale, the director now owns 45,051 shares in the company, valued at approximately $12,444,888.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total value of $173,056.00. Following the transaction, the vice president now directly owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,347 shares of company stock worth $7,728,272. 1.99% of the stock is owned by corporate 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 enterprise emulation platform; and Protium, a prototyping platform for chip verification.