Keybank National Association OH Grows Holdings in Cadence Design Systems, Inc. $CDNS

Keybank National Association OH raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,123 shares of the software maker’s stock after buying an additional 221 shares during the period. Keybank National Association OH’s holdings in Cadence Design Systems were worth $3,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CDNS. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the 1st quarter valued at about $25,000. Saudi Central Bank purchased a new stake in Cadence Design Systems in the 1st quarter worth $27,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems in the 2nd quarter worth $31,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in 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 worth $39,000 after acquiring an additional 37 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Cadence Design Systems in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CDNS shares. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wolfe Research reiterated an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group began coverage on Cadence Design Systems in a research note on Thursday, July 10th. They set a “buy” rating and a $380.00 price objective for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.00.

Cadence Design Systems Stock Up 0.8%

Shares of NASDAQ:CDNS opened at $338.69 on Friday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $346.26 and a two-hundred day moving average of $325.95. The stock has a market cap of $92.29 billion, a P/E ratio of 87.29, a PEG ratio of 4.55 and a beta of 0.99. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Cadence Design Systems’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. Q4 2025 guidance at 1.880-1.940 EPS. On average, research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,680 shares of company stock valued at $3,371,132 in the last 90 days. 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.