Brandywine Oak Private Wealth LLC Boosts Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Brandywine Oak Private Wealth LLC increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,262 shares of the software maker’s stock after buying an additional 62 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in Cadence Design Systems were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CDNS. Schmidt P J Investment Management Inc. boosted its position in Cadence Design Systems by 4.2% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 1,988 shares of the software maker’s stock worth $597,000 after purchasing an additional 81 shares in the last quarter. Choreo LLC grew its stake in shares of Cadence Design Systems by 12.3% in the fourth quarter. Choreo LLC now owns 5,761 shares of the software maker’s stock valued at $1,739,000 after buying an additional 632 shares in the last quarter. Nvwm LLC raised its stake in shares of Cadence Design Systems by 3.4% in the fourth quarter. Nvwm LLC now owns 5,032 shares of the software maker’s stock valued at $1,512,000 after acquiring an additional 167 shares in the last quarter. Lion Street Advisors LLC acquired a new stake in Cadence Design Systems in the fourth quarter valued at $250,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Cadence Design Systems by 7.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 114,024 shares of the software maker’s stock valued at $34,725,000 after acquiring an additional 7,679 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the completion of the sale, the vice president now owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the sale, the vice president now owns 14,318 shares in the company, valued at $4,378,158.04. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock worth $33,538,875 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CDNS shares. Wells Fargo & Company started coverage on Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Robert W. Baird lifted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Needham & Company LLC cut their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $329.50.

Cadence Design Systems Stock Up 1.0 %

Shares of NASDAQ:CDNS opened at $302.65 on Thursday. The company has a market capitalization of $83.01 billion, a PE ratio of 79.44, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a fifty day moving average of $304.81 and a 200-day moving average of $284.68.

About Cadence Design Systems

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.