Cadence Design Systems Target of Unusually Large Options Trading (NASDAQ:CDNS)

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Free Report) was the recipient of some unusual options trading activity on Monday. Traders acquired 4,585 call options on the company. This represents an increase of 159% compared to the typical daily volume of 1,772 call options.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $268.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 24th. Morgan Stanley assumed coverage on Cadence Design Systems in a research report on Friday, November 10th. They issued an “equal weight” rating and a $260.00 target price on the stock. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Rosenblatt Securities raised their price target on Cadence Design Systems from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, KeyCorp raised their price target on Cadence Design Systems from $290.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $282.22.

Check Out Our Latest Research Report on CDNS

Insider Activity at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 7,500 shares of Cadence Design Systems stock in a transaction on Friday, December 15th. The shares were sold at an average price of $270.32, for a total value of $2,027,400.00. Following the transaction, the vice president now directly owns 109,179 shares in the company, valued at approximately $29,513,267.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Chin-Chi Teng sold 7,500 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $270.32, for a total value of $2,027,400.00. Following the completion of the transaction, the vice president now owns 109,179 shares of the company’s stock, valued at approximately $29,513,267.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karna Nisewaner sold 700 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $272.85, for a total transaction of $190,995.00. Following the completion of the transaction, the vice president now directly owns 19,609 shares of the company’s stock, valued at approximately $5,350,315.65. The disclosure for this sale can be found here. Insiders have sold a total of 70,178 shares of company stock worth $19,409,553 in the last three months. Insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Cadence Design Systems

A number of institutional investors have recently bought and sold shares of CDNS. Stifel Financial Corp raised its stake in shares of Cadence Design Systems by 17.9% during the 4th quarter. Stifel Financial Corp now owns 80,306 shares of the software maker’s stock worth $21,873,000 after purchasing an additional 12,194 shares in the last quarter. Portfolio Design Labs LLC bought a new position in Cadence Design Systems in the 4th quarter worth approximately $627,000. TD Asset Management Inc increased its position in Cadence Design Systems by 54.4% in the 4th quarter. TD Asset Management Inc now owns 484,532 shares of the software maker’s stock worth $131,972,000 after buying an additional 170,739 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in Cadence Design Systems by 10.8% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 27,105 shares of the software maker’s stock worth $7,383,000 after buying an additional 2,640 shares during the period. Finally, IPG Investment Advisors LLC grew its holdings in shares of Cadence Design Systems by 76.4% during the 4th quarter. IPG Investment Advisors LLC now owns 5,245 shares of the software maker’s stock worth $1,429,000 after purchasing an additional 2,272 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 1.7 %

Shares of NASDAQ:CDNS traded down $5.36 during midday trading on Monday, reaching $306.58. The company had a trading volume of 3,126,720 shares, compared to its average volume of 1,504,000. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.31 and a current ratio of 1.44. Cadence Design Systems has a 1-year low of $183.80 and a 1-year high of $315.70. The firm has a market cap of $83.41 billion, a price-to-earnings ratio of 88.87, a price-to-earnings-growth ratio of 3.76 and a beta of 1.07. The company has a fifty day simple moving average of $277.26 and a two-hundred day simple moving average of $254.90.

Cadence Design Systems Company Profile

(Get Free Report)

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.

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