Cadence Design Systems, Inc. $CDNS Shares Bought by Amalgamated Bank

Amalgamated Bank raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,538 shares of the software maker’s stock after purchasing an additional 1,313 shares during the quarter. Amalgamated Bank’s holdings in Cadence Design Systems were worth $18,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Savvy Advisors Inc. boosted its holdings in Cadence Design Systems by 12.5% in the 2nd quarter. Savvy Advisors Inc. now owns 4,368 shares of the software maker’s stock valued at $1,346,000 after purchasing an additional 486 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Cadence Design Systems by 2.0% in the 2nd quarter. Keybank National Association OH now owns 11,123 shares of the software maker’s stock worth $3,428,000 after acquiring an additional 221 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Cadence Design Systems by 27.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,116 shares of the software maker’s stock worth $344,000 after acquiring an additional 241 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $277,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $123,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 0.0%

Shares of NASDAQ:CDNS opened at $341.43 on Thursday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock has a market cap of $93.04 billion, a P/E ratio of 88.00, a P/E/G ratio of 4.47 and a beta of 0.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. The firm has a fifty day moving average price of $346.70 and a 200 day moving average price of $324.90.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $1.64 EPS. The business’s 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. Q4 2025 guidance at 1.880-1.940 EPS. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday. Piper Sandler restated a “neutral” rating and issued a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Finally, BNP Paribas assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $376.00.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,680 shares of company stock worth $3,729,852. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.