Assenagon Asset Management S.A. purchased a new position in Cadence Design Systems Inc (NASDAQ:CDNS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 101,940 shares of the software maker’s stock, valued at approximately $4,432,000.

A number of other hedge funds also recently made changes to their positions in CDNS. North Star Investment Management Corp. lifted its stake in Cadence Design Systems by 80.8% in the 4th quarter. North Star Investment Management Corp. now owns 1,835 shares of the software maker’s stock worth $80,000 after purchasing an additional 820 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Cadence Design Systems in the 4th quarter worth $106,000. Legacy Financial Advisors Inc. lifted its stake in Cadence Design Systems by 91.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,045 shares of the software maker’s stock worth $132,000 after purchasing an additional 1,452 shares in the last quarter. Psagot Investment House Ltd. lifted its stake in Cadence Design Systems by 52.4% in the 3rd quarter. Psagot Investment House Ltd. now owns 3,262 shares of the software maker’s stock worth $148,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Buckingham Asset Management LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth $208,000. Institutional investors and hedge funds own 87.45% of the company’s stock.

Shares of NASDAQ CDNS opened at $46.59 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.64. The stock has a market cap of $12.92 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 3.04 and a beta of 1.03. Cadence Design Systems Inc has a 12-month low of $35.49 and a 12-month high of $47.40.

CDNS has been the topic of several research analyst reports. BidaskClub cut shares of Cadence Design Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from an “underweight” rating to a “neutral” rating and upped their target price for the company from $49.00 to $51.00 in a research report on Tuesday, October 23rd. Benchmark upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research report on Thursday, October 25th. Finally, 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 on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $50.75.

In related news, insider Aneel Zaman sold 32,995 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $44.46, for a total transaction of $1,466,957.70. Following the transaction, the insider now directly owns 202,927 shares in the company, valued at approximately $9,022,134.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.28% of the company’s stock.

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Cadence Design Systems Company 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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