Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Holdings Lifted by Strategic Blueprint LLC

Strategic Blueprint LLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 33.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,222 shares of the software maker’s stock after buying an additional 308 shares during the period. Strategic Blueprint LLC’s holdings in Cadence Design Systems were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Smith Group Asset Management LLC raised its position in shares of Cadence Design Systems by 10.0% during the 4th quarter. Smith Group Asset Management LLC now owns 106,027 shares of the software maker’s stock worth $31,857,000 after purchasing an additional 9,652 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Cadence Design Systems by 66.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 529,287 shares of the software maker’s stock worth $159,030,000 after buying an additional 210,349 shares during the period. Sumitomo Life Insurance Co. lifted its stake in Cadence Design Systems by 28.4% in the fourth quarter. Sumitomo Life Insurance Co. now owns 22,600 shares of the software maker’s stock valued at $6,790,000 after buying an additional 5,000 shares during the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of Cadence Design Systems by 7.4% during the fourth quarter. SteelPeak Wealth LLC now owns 4,414 shares of the software maker’s stock valued at $1,326,000 after acquiring an additional 304 shares during the period. Finally, BSW Wealth Partners increased its holdings in shares of Cadence Design Systems by 8.3% in the 4th quarter. BSW Wealth Partners now owns 1,229 shares of the software maker’s stock worth $369,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 3,171 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $305.78, for a total transaction of $969,628.38. Following the sale, the vice president now directly owns 14,318 shares of the company’s stock, valued at $4,378,158.04. The trade was a 18.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on 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 directly owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,766 shares of company stock valued at $33,348,867 over the last three months. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of analyst reports. Mizuho upped their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Wells Fargo & Company started coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target for the company. Robert W. Baird raised their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC reduced their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $329.50.

Cadence Design Systems Trading Down 0.0 %

Cadence Design Systems stock opened at $297.62 on Friday. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The firm’s 50 day moving average price is $305.59 and its two-hundred day moving average price is $284.74. The firm has a market cap of $81.63 billion, a price-to-earnings ratio of 78.12, a price-to-earnings-growth ratio of 3.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

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.