Vanguard Group Inc. Has $9.46 Billion Stock Position in Cadence Design Systems, Inc. $CDNS

Vanguard Group Inc. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 26,923,317 shares of the software maker’s stock after purchasing an additional 327,456 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Cadence Design Systems worth $9,457,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tiemann Investment Advisors LLC boosted its stake in shares of Cadence Design Systems by 2.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after purchasing an additional 30 shares during the last quarter. Occidental Asset Management LLC raised its position in shares of Cadence Design Systems by 2.3% in the 3rd quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker’s stock worth $464,000 after acquiring an additional 30 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Cadence Design Systems by 0.4% in the 3rd quarter. Whittier Trust Co. now owns 7,072 shares of the software maker’s stock valued at $2,456,000 after purchasing an additional 30 shares during the period. Cornerstone Wealth Group LLC grew its stake in Cadence Design Systems by 4.3% during the third quarter. Cornerstone Wealth Group LLC now owns 777 shares of the software maker’s stock worth $273,000 after purchasing an additional 32 shares during the period. Finally, KRS Capital Management LLC increased its holdings in Cadence Design Systems by 1.4% in the third quarter. KRS Capital Management LLC now owns 2,425 shares of the software maker’s stock worth $852,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 3.9%

NASDAQ CDNS opened at $299.46 on Tuesday. 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 $81.51 billion, a P/E ratio of 77.18, a PEG ratio of 3.33 and a beta of 1.01. The business has a fifty day simple moving average of $310.91 and a 200 day simple moving average of $329.41. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDNS. JPMorgan Chase & Co. lifted their price objective 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. Rosenblatt Securities boosted their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Robert W. Baird raised their price objective on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company increased 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. Finally, Citigroup started coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price target for the company. Thirteen investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.59.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director owned 7,650 shares in the company, valued at $2,581,722. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Wall sold 27,805 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the sale, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 56,475 shares of company stock valued at $18,505,486 in the last quarter. 0.37% of the stock is owned by company insiders.

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.