Huntington National Bank Raises Holdings in Cadence Design Systems, Inc. $CDNS

Huntington National Bank lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,625 shares of the software maker’s stock after buying an additional 316 shares during the period. Huntington National Bank’s holdings in Cadence Design Systems were worth $809,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Petros Family Wealth LLC raised its stake in shares of Cadence Design Systems by 2.6% during the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock worth $394,000 after buying an additional 32 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Cadence Design Systems by 14.0% in the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after acquiring an additional 32 shares during the period. Legacy Capital Wealth Partners LLC grew its holdings in shares of Cadence Design Systems by 2.8% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after acquiring an additional 33 shares during the period. Empower Advisory Group LLC grew its holdings in shares of Cadence Design Systems by 4.1% in the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after acquiring an additional 36 shares during the period. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Cadence Design Systems by 0.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after acquiring an additional 36 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the sale, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. This trade represents a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 10,680 shares of company stock worth $3,711,392. 0.37% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $327.63 on Thursday. The business’s fifty day moving average price is $345.46 and its two-hundred day moving average price is $327.46. The stock has a market cap of $89.18 billion, a PE ratio of 84.44, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. 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, analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CDNS shares. Piper Sandler restated a “neutral” rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Robert W. Baird upped their price target on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Mizuho upped their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

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.