Bleakley Financial Group LLC Purchases 47 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Bleakley Financial Group LLC boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,730 shares of the software maker’s stock after acquiring an additional 47 shares during the quarter. Bleakley Financial Group LLC’s holdings in Cadence Design Systems were worth $4,125,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CDNS. Brandywine Oak Private Wealth LLC raised its holdings in shares of Cadence Design Systems by 5.2% in the 4th quarter. Brandywine Oak Private Wealth LLC now owns 1,262 shares of the software maker’s stock valued at $379,000 after purchasing an additional 62 shares during the period. Schmidt P J Investment Management Inc. increased its position in Cadence Design Systems by 4.2% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 1,988 shares of the software maker’s stock worth $597,000 after buying an additional 81 shares during the last quarter. Choreo LLC raised its stake in Cadence Design Systems by 12.3% in the fourth quarter. Choreo LLC now owns 5,761 shares of the software maker’s stock valued at $1,739,000 after buying an additional 632 shares during the period. Nvwm LLC lifted its position in shares of Cadence Design Systems by 3.4% in the fourth quarter. Nvwm LLC now owns 5,032 shares of the software maker’s stock valued at $1,512,000 after buying an additional 167 shares during the last quarter. Finally, Lion Street Advisors LLC acquired a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $250,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CDNS. Wells Fargo & Company began coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target for the company. Loop Capital started coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 target price for the company. Mizuho increased their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 price objective for the company. Finally, Robert W. Baird upped their target price on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $329.50.

Cadence Design Systems Trading Up 0.1 %

CDNS opened at $302.91 on Friday. The stock has a market capitalization of $83.08 billion, a price-to-earnings ratio of 79.50, a P/E/G ratio of 3.42 and a beta of 1.03. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The company has a 50-day simple moving average of $304.77 and a 200 day simple moving average of $284.80.

Insider Activity

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $292.32, for a total transaction of $190,008.00. Following the completion of the transaction, the vice president now owns 58,773 shares of the company’s stock, valued at approximately $17,180,523.36. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 3,171 shares of the firm’s 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 completion of the sale, the vice president now directly owns 14,318 shares in the company, valued at $4,378,158.04. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,416 shares of company stock worth $33,538,875. 0.62% of the stock is currently owned by corporate insiders.

Cadence Design Systems Company 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.