Appleton Partners Inc. MA Makes New $13.25 Million Investment in Cadence Design Systems, Inc. $CDNS

Appleton Partners Inc. MA acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, Holdings Channel reports. The institutional investor acquired 37,710 shares of the software maker’s stock, valued at approximately $13,246,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Wealth Investment Group LLC acquired a new position in shares of Cadence Design Systems in the second quarter valued at about $32,000. Promus Capital LLC acquired a new position in Cadence Design Systems in the 2nd quarter worth approximately $33,000. Robbins Farley purchased a new position in Cadence Design Systems during the 3rd quarter worth approximately $35,000. Cloud Capital Management LLC acquired a new stake in Cadence Design Systems during the 3rd quarter valued at approximately $35,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Cadence Design Systems in the third quarter worth $39,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 4.9%

Shares of CDNS opened at $283.44 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a market cap of $77.15 billion, a P/E ratio of 73.05, a PEG ratio of 3.02 and a beta of 1.01. The stock’s 50 day moving average is $314.89 and its two-hundred day moving average is $331.51. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the transaction, the vice president directly owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,475 shares of company stock worth $18,505,486 in the last 90 days. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDNS. JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Rosenblatt Securities raised their target price on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Wolfe Research reissued an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Citigroup assumed coverage on Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the 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 Company 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.