Hennion & Walsh Asset Management Inc. Has $2.10 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Hennion & Walsh Asset Management Inc. lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,743 shares of the software maker’s stock after buying an additional 1,134 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cadence Design Systems were worth $2,099,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. RiverPark Advisors LLC acquired a new stake in Cadence Design Systems in the first quarter worth $26,000. ORG Partners LLC increased its position in Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Annapolis Financial Services LLC acquired a new position in Cadence Design Systems during the 1st quarter worth approximately $32,000. Hollencrest Capital Management boosted its holdings in Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after acquiring an additional 102 shares in the last quarter. Finally, Chilton Capital Management LLC grew its stake in Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of recent research reports. Mizuho initiated coverage on Cadence Design Systems in a report on Tuesday. They issued an “outperform” rating and a $325.00 target price on the stock. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective for the company. Robert W. Baird dropped their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.42.

Cadence Design Systems Trading Up 2.4 %

Shares of Cadence Design Systems stock opened at $257.30 on Friday. The firm has a market cap of $70.09 billion, a PE ratio of 67.01, a P/E/G ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a 1 year low of $228.66 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. The stock has a fifty day moving average price of $267.89 and a 200-day moving average price of $283.26.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the sale, the director now directly owns 42,051 shares in the company, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,347 shares of company stock worth $7,728,272. 1.99% of the stock is owned by company insiders.

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.