Cadence Design Systems, Inc. (NASDAQ:CDNS) Stake Boosted by Realta Investment Advisors

Realta Investment Advisors raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,592 shares of the software maker’s stock after purchasing an additional 185 shares during the quarter. Realta Investment Advisors’ holdings in Cadence Design Systems were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in shares of Cadence Design Systems by 132.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock valued at $41,850,000 after buying an additional 79,268 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Cadence Design Systems by 48.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares during the period. Avanza Fonder AB bought a new stake in shares of Cadence Design Systems in the 4th quarter worth approximately $6,046,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Cadence Design Systems during the 3rd quarter valued at approximately $24,026,000. Finally, Zhang Financial LLC bought a new position in Cadence Design Systems during the 4th quarter worth $381,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $302.91 on Friday. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The stock has a market capitalization of $83.08 billion, a P/E ratio of 79.50, a P/E/G ratio of 3.42 and a beta of 1.03. The firm’s 50 day moving average is $304.73 and its 200-day moving average is $284.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. 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. Berenberg Bank assumed coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target on the stock. Robert W. Baird increased their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Loop Capital initiated coverage on Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned 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 price target of $329.50.

Insiders Place Their Bets

In related news, VP Paul Scannell sold 3,171 shares of Cadence Design Systems stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $305.78, for a total value of $969,628.38. Following the transaction, the vice president now owns 14,318 shares of the company’s stock, valued at approximately $4,378,158.04. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $292.32, for a total transaction of $190,008.00. Following the sale, the vice president now directly owns 58,773 shares of the company’s stock, valued at $17,180,523.36. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,416 shares of company stock worth $33,538,875. 0.62% of the stock is owned by 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.