Amica Mutual Insurance Co. Acquires 5,135 Shares of Cadence Design Systems, Inc. $CDNS

Amica Mutual Insurance Co. lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 220.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,461 shares of the software maker’s stock after purchasing an additional 5,135 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Cadence Design Systems were worth $2,621,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

CDNS has been the topic of a number of recent analyst reports. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a research report on Monday, December 1st. Wolfe Research reiterated an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a research report on Monday, December 22nd. Citigroup started coverage on Cadence Design Systems in a research report on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Finally, Rosenblatt Securities increased their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.59.

Cadence Design Systems Stock Up 3.9%

CDNS stock opened at $299.46 on Monday. The firm has a market capitalization of $81.51 billion, a PE ratio of 77.18, a P/E/G ratio of 3.33 and a beta of 1.01. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The stock’s 50 day moving average is $311.67 and its 200-day moving average is $329.86.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, 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 value of $8,857,838.85. Following the completion of the sale, the chief financial officer owned 69,957 shares in the company, valued at approximately $22,286,201.49. This trade represents a 28.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. 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.