Savvy Advisors Inc. Has $1.35 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Savvy Advisors Inc. boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,368 shares of the software maker’s stock after purchasing an additional 486 shares during the period. Savvy Advisors Inc.’s holdings in Cadence Design Systems were worth $1,346,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Costello Asset Management INC bought a new stake in shares of Cadence Design Systems during the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new position in shares of Cadence Design Systems in the first quarter valued at $27,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter worth $31,000. E Fund Management Hong Kong Co. Ltd. raised its position in Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after acquiring an additional 37 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in Cadence Design Systems in the second quarter valued at $40,000. 84.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Stifel Nicolaus boosted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and set a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $336.09 on Friday. 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 stock’s fifty day moving average price is $346.47 and its two-hundred day moving average price is $324.98. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm has a market cap of $91.58 billion, a price-to-earnings ratio of 86.62, a P/E/G ratio of 4.55 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results 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. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred 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 directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,680 shares of company stock worth $3,371,132 in the last quarter. 1.99% of the stock is currently owned by corporate insiders.

About Cadence Design Systems

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.