Baader Bank Aktiengesellschaft Acquires 2,253 Shares of Cadence Design Systems, Inc. $CDNS

Baader Bank Aktiengesellschaft boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,178 shares of the software maker’s stock after buying an additional 2,253 shares during the period. Cadence Design Systems makes up approximately 0.6% of Baader Bank Aktiengesellschaft’s holdings, making the stock its 28th biggest holding. Baader Bank Aktiengesellschaft’s holdings in Cadence Design Systems were worth $8,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNS. Waterway Wealth Management LLC acquired a new stake in Cadence Design Systems in the 3rd quarter valued at approximately $489,000. Wesbanco Bank Inc. grew its stake in shares of Cadence Design Systems by 3.7% during the 3rd quarter. Wesbanco Bank Inc. now owns 2,018 shares of the software maker’s stock worth $709,000 after acquiring an additional 72 shares in the last quarter. Midwest Trust Co raised its holdings in shares of Cadence Design Systems by 3.4% in the third quarter. Midwest Trust Co now owns 1,763 shares of the software maker’s stock valued at $619,000 after purchasing an additional 58 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Cadence Design Systems by 6.6% in the third quarter. Wealthfront Advisers LLC now owns 28,259 shares of the software maker’s stock worth $9,926,000 after purchasing an additional 1,757 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in Cadence Design Systems by 2.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 16,631 shares of the software maker’s stock worth $5,842,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research note on Monday, December 1st. Finally, Rosenblatt Securities boosted their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $379.59.

Cadence Design Systems Stock Up 2.7%

CDNS stock opened at $299.00 on Wednesday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The business’s 50 day simple moving average is $314.14 and its 200 day simple moving average is $331.16. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $81.39 billion, a PE ratio of 77.06, a PEG ratio of 3.24 and a beta of 1.01.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total value of $1,863,470.70. Following the transaction, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 27,805 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,475 shares of company stock valued at $18,505,486. Corporate insiders own 0.37% of the company’s stock.

About Cadence Design Systems

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.