Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Vivid Wealth Management LLC

Vivid Wealth Management LLC increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,858 shares of the software maker’s stock after acquiring an additional 277 shares during the period. Vivid Wealth Management LLC’s holdings in Cadence Design Systems were worth $2,361,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CDNS. Creative Planning raised its position in shares of Cadence Design Systems by 9.1% in the 3rd quarter. Creative Planning now owns 48,389 shares of the software maker’s stock valued at $13,115,000 after purchasing an additional 4,038 shares in the last quarter. Swedbank AB increased its holdings in shares of Cadence Design Systems by 15.1% in the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock valued at $475,336,000 after acquiring an additional 230,672 shares during the last quarter. Good Life Advisors LLC bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at approximately $278,000. Bleakley Financial Group LLC increased its holdings in shares of Cadence Design Systems by 6.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,683 shares of the software maker’s stock valued at $3,709,000 after acquiring an additional 790 shares during the last quarter. Finally, Teamwork Financial Advisors LLC increased its holdings in shares of Cadence Design Systems by 19.4% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock valued at $3,559,000 after acquiring an additional 2,136 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 0.3 %

Shares of Cadence Design Systems stock opened at $295.19 on Friday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The firm has a market cap of $80.96 billion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The business has a fifty day simple moving average of $303.55 and a 200-day simple moving average of $285.94. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 3,171 shares of the company’s 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 directly owns 14,318 shares of the company’s stock, valued at $4,378,158.04. This represents a 18.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,538,875 over the last three months. Insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CDNS. Wells Fargo & Company started coverage on Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Robert W. Baird upped their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Loop Capital began coverage on Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 price objective for the company. Mizuho increased their price target on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.08.

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.