Clear Harbor Asset Management LLC Has $2.81 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Clear Harbor Asset Management LLC raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,383 shares of the software maker’s stock after acquiring an additional 199 shares during the period. Clear Harbor Asset Management LLC’s holdings in Cadence Design Systems were worth $2,814,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Brookstone Capital Management lifted its holdings in shares of Cadence Design Systems by 15.4% during the first quarter. Brookstone Capital Management now owns 1,037 shares of the software maker’s stock worth $323,000 after buying an additional 138 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in Cadence Design Systems by 4.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock worth $296,000 after purchasing an additional 41 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Cadence Design Systems by 110.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,924 shares of the software maker’s stock valued at $8,692,000 after buying an additional 14,644 shares during the last quarter. 180 Wealth Advisors LLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at about $207,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in Cadence Design Systems by 27.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,845 shares of the software maker’s stock worth $1,197,000 after buying an additional 827 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CDNS has been the subject of several recent research reports. Robert W. Baird cut their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Mizuho initiated coverage on Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price for the company. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target on the stock. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given 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 $323.42.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the transaction, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the sale, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total value of $177,736.00. Following the transaction, the vice president now owns 61,761 shares in the company, valued at approximately $16,887,927.84. This trade represents 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. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $257.30 on Friday. The firm has a market cap of $70.45 billion, a price-to-earnings ratio of 66.49, a PEG ratio of 3.03 and a beta of 1.02. Cadence Design Systems, Inc. has a 12 month low of $228.66 and a 12 month high of $328.99. 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 stock has a 50-day moving average price of $267.42 and a 200 day moving average price of $282.69.

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.