Atria Investments Inc Boosts Stock Position in Cadence Design Systems, Inc. $CDNS

Atria Investments Inc grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 34.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,269 shares of the software maker’s stock after purchasing an additional 4,975 shares during the period. Atria Investments Inc’s holdings in Cadence Design Systems were worth $6,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Robbins Farley acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at about $35,000. Cloud Capital Management LLC acquired a new stake in Cadence Design Systems during the third quarter valued at $35,000. Strategic Wealth Investment Group LLC purchased a new position in Cadence Design Systems in the second quarter valued at $32,000. Promus Capital LLC purchased a new position in Cadence Design Systems during the second quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth $39,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the firm’s 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 completion of the sale, the director owned 7,650 shares in the company, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the transaction, the vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 56,475 shares of company stock worth $18,505,486 over the last 90 days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $299.46 on Friday. The company’s fifty day moving average price is $311.67 and its 200 day moving average price is $330.40. The firm has a market capitalization 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 current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Analysts Set New Price Targets

A number of brokerages have commented on CDNS. Needham & Company LLC reissued a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a report on Monday, December 22nd. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a research note on Monday, December 1st. Wolfe Research reissued an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price target 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. Thirteen research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $379.59.

Cadence Design Systems 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.