12,484 Shares in Cadence Design Systems, Inc. $CDNS Purchased by DJE Kapital AG

DJE Kapital AG purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, Holdings Channel reports. The fund purchased 12,484 shares of the software maker’s stock, valued at approximately $3,848,000.

Other large investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems during the 2nd quarter valued at $31,000. Saudi Central Bank bought a new position in Cadence Design Systems in the 1st quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of 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 purchasing an additional 37 shares during the last quarter. Finally, Key Financial Inc increased its stake in shares of Cadence Design Systems by 174.5% in the second quarter. Key Financial Inc now owns 129 shares of the software maker’s stock valued at $40,000 after buying an additional 82 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anirudh Devgan sold 5,550 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total value of $1,819,290.00. Following the completion of the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at $64,197,663.20. This represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,230 shares of company stock valued at $5,530,682 over the last 90 days. Company insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. BNP Paribas began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Oppenheimer upped their price objective on Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a report on Tuesday, October 28th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Trading Up 0.2%

CDNS opened at $325.05 on Friday. The firm has a 50 day simple moving average of $344.35 and a 200 day simple moving average of $328.44. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a market cap of $88.48 billion, a price-to-earnings ratio of 83.78, 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 current ratio of 3.05 and a quick ratio of 2.67.

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 for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter 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, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.