LS Investment Advisors LLC Has $419,000 Stake in Cadence Design Systems Inc (CDNS)

LS Investment Advisors LLC reduced its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 23.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,643 shares of the software maker’s stock after selling 2,960 shares during the quarter. LS Investment Advisors LLC’s holdings in Cadence Design Systems were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in shares of Cadence Design Systems by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 76,295 shares of the software maker’s stock valued at $3,317,000 after acquiring an additional 767 shares during the period. North Star Investment Management Corp. boosted its position in shares of Cadence Design Systems by 80.8% in the fourth quarter. North Star Investment Management Corp. now owns 1,835 shares of the software maker’s stock valued at $80,000 after acquiring an additional 820 shares during the period. Psagot Investment House Ltd. boosted its position in shares of Cadence Design Systems by 52.4% in the third quarter. Psagot Investment House Ltd. now owns 3,262 shares of the software maker’s stock valued at $148,000 after acquiring an additional 1,121 shares during the period. Putnam Investments LLC lifted its position in Cadence Design Systems by 0.5% during the third quarter. Putnam Investments LLC now owns 251,728 shares of the software maker’s stock valued at $11,408,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Cadence Design Systems by 25.0% during the third quarter. Signaturefd LLC now owns 5,717 shares of the software maker’s stock valued at $259,000 after purchasing an additional 1,144 shares during the last quarter. Institutional investors own 89.13% of the company’s stock.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. BidaskClub upgraded shares of Cadence Design Systems from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a research report on Tuesday, November 20th. They set a “hold” rating and a $50.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $49.00 to $51.00 in a research report on Tuesday, October 23rd. Finally, Benchmark upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $50.75.

In other Cadence Design Systems news, Director John B. Shoven sold 50,000 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the transaction, the director now directly owns 152,120 shares of the company’s stock, valued at $7,606,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas P. Beckley sold 23,208 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $48.00, for a total transaction of $1,113,984.00. The disclosure for this sale can be found here. Insiders have sold 173,208 shares of company stock worth $8,418,984 over the last three months. Insiders own 2.28% of the company’s stock.

Shares of Cadence Design Systems stock opened at $52.13 on Wednesday. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 49.18, a P/E/G ratio of 3.38 and a beta of 1.06. Cadence Design Systems Inc has a 1 year low of $35.49 and a 1 year high of $52.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.64 and a quick ratio of 1.58.

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Cadence Design Systems Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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