Atria Investments Inc Grows Stock Holdings in Cadence Design Systems, Inc. $CDNS

Atria Investments Inc boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 34.8% during the third quarter, Holdings Channel reports. The firm owned 19,269 shares of the software maker’s stock after buying an additional 4,975 shares during the quarter. Atria Investments Inc’s holdings in Cadence Design Systems were worth $6,768,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CDNS. Peterson Wealth Services raised its stake in shares of Cadence Design Systems by 1,501.3% during the third quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock valued at $65,726,000 after purchasing an additional 175,430 shares during the period. Pacer Advisors Inc. increased its stake in Cadence Design Systems by 83.3% during the third quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock valued at $64,052,000 after purchasing an additional 82,856 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Cadence Design Systems during the third quarter worth $6,177,000. Patton Fund Management Inc. raised its holdings in shares of Cadence Design Systems by 1,743.7% during the third quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock worth $4,916,000 after purchasing an additional 13,235 shares during the period. Finally, Westerkirk Capital Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $2,024,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the sale, the director directly owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. The trade was a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,475 shares of company stock worth $18,505,486 over the last 90 days. 1.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird raised their price target on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Monday, December 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $379.59.

Cadence Design Systems Stock Performance

CDNS stock opened at $299.46 on Friday. The firm has a 50 day simple moving average of $311.67 and a 200 day simple moving average of $330.40. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market cap of $81.51 billion, a P/E ratio of 77.18, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05.

Cadence Design Systems Company 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.