Lake Street Advisors Group LLC Buys 288 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Lake Street Advisors Group LLC increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,562 shares of the software maker’s stock after purchasing an additional 288 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Cadence Design Systems were worth $694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at $26,000. ORG Partners LLC grew its stake in shares of Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares during the last quarter. Annapolis Financial Services LLC bought a new position in shares of Cadence Design Systems during the first quarter valued at approximately $32,000. Hollencrest Capital Management raised its holdings in shares of Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after buying an additional 102 shares during the period. Finally, Chilton Capital Management LLC boosted its holdings in Cadence Design Systems by 244.0% during the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity

In related news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now directly owns 65,194 shares in the company, valued at $17,357,250.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total transaction of $414,360.00. Following the completion of the sale, the director now directly owns 45,051 shares in the company, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now owns 65,194 shares in the company, valued at $17,357,250.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,347 shares of company stock worth $7,728,272. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $257.30 on Friday. The firm has a 50 day moving average of $267.89 and a 200 day moving average of $283.26. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $70.09 billion, a price-to-earnings ratio of 67.01, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a 52 week low of $228.66 and a 52 week high of $328.99.

Analyst Ratings Changes

A number of research firms have weighed in on CDNS. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. Finally, Robert W. Baird decreased their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.42.

Cadence Design Systems Company 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.