Cadence Design Systems, Inc. $CDNS Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 131.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,520 shares of the software maker’s stock after purchasing an additional 2,565 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cadence Design Systems were worth $1,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after acquiring an additional 80 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Cadence Design Systems by 693.9% in the second quarter. SOA Wealth Advisors LLC. now owns 262 shares of the software maker’s stock worth $81,000 after acquiring an additional 229 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Cadence Design Systems by 686.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock worth $108,103,000 after acquiring an additional 306,198 shares during the last quarter. Finally, Pure Financial Advisors LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth approximately $250,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $296.36 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The company has a market capitalization of $80.67 billion, a PE ratio of 76.38, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The firm’s 50-day moving average is $317.89 and its two-hundred day moving average is $332.92. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Analyst Ratings Changes

CDNS has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Rosenblatt Securities raised their price target on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. KeyCorp reiterated an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Wolfe Research restated an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.59.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 27,805 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, December 1st. The shares were sold at an average price of $312.64, for a total value of $312,640.00. Following the completion of the sale, the vice president owned 97,067 shares in the company, valued at $30,347,026.88. This represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,025 shares of company stock valued at $20,369,946 in the last ninety days. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.