Benjamin Edwards Inc. Purchases 1,602 Shares of Cadence Design Systems, Inc. $CDNS

Benjamin Edwards Inc. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,713 shares of the software maker’s stock after buying an additional 1,602 shares during the period. Benjamin Edwards Inc.’s holdings in Cadence Design Systems were worth $8,681,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems during the second quarter valued at $31,000. Strategic Wealth Investment Group LLC bought a new position in Cadence Design Systems during the 2nd quarter worth about $32,000. Promus Capital LLC purchased a new position in Cadence Design Systems during the 2nd quarter valued at about $33,000. Robbins Farley purchased a new position in Cadence Design Systems during the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Cadence Design Systems by 41.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after purchasing an additional 37 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDNS. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company upped 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. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research 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 target for the company in a research report on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $379.11.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $318.80 on Friday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The business’s fifty day simple moving average is $318.72 and its 200-day simple moving average is $332.56. 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 company has a market cap of $86.78 billion, a PE ratio of 82.17, a PEG ratio of 3.58 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share 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 firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $1.64 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. 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. Analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the sale, the chief executive officer directly owned 195,844 shares in the company, valued at $66,586,960. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $315.70, for a total transaction of $315,700.00. Following the sale, the vice president directly owned 96,067 shares in the company, valued at approximately $30,328,351.90. This represents a 1.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 62,025 shares of company stock valued at $20,369,946. Insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.