Cadence Design Systems, Inc. $CDNS Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 301,780 shares of the software maker’s stock after purchasing an additional 20,674 shares during the quarter. 1832 Asset Management L.P.’s holdings in Cadence Design Systems were worth $92,994,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the first quarter worth approximately $25,000. Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems in the second quarter worth $31,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems during the 1st quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after acquiring an additional 37 shares during the last quarter. Finally, Key Financial Inc lifted its stake in shares of Cadence Design Systems by 174.5% in the 2nd quarter. Key Financial Inc now owns 129 shares of the software maker’s stock valued at $40,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $336.11 on Thursday. The firm has a fifty day moving average of $328.98 and a two-hundred day moving average of $329.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a market capitalization of $91.49 billion, a price-to-earnings ratio of 86.63, a PEG ratio of 3.98 and a beta of 1.05. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

CDNS has been the topic of several analyst reports. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a report on Monday. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Wells Fargo & Company increased their target price on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, BNP Paribas began coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $379.11.

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anirudh Devgan sold 5,550 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total value of $1,819,290.00. Following the completion of the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at approximately $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,230 shares of company stock valued at $5,499,372. 0.37% of the stock is currently owned by company insiders.

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.