Campbell & CO Investment Adviser LLC Takes Position in Cadence Design Systems, Inc. $CDNS

Campbell & CO Investment Adviser LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,796 shares of the software maker’s stock, valued at approximately $3,019,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in Cadence Design Systems in the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new stake in Cadence Design Systems in the 1st quarter worth $27,000. Barrett & Company Inc. purchased a new position in Cadence Design Systems during the 2nd quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. increased its stake 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 valued at $39,000 after buying an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in Cadence Design Systems in the 2nd quarter worth $40,000. 84.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction 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 directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anirudh Devgan sold 5,550 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the sale, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,230 shares of company stock worth $5,530,682 in the last quarter. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Up 0.2%

Shares of CDNS stock opened at $325.05 on Monday. 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 company has a market cap of $88.48 billion, a price-to-earnings ratio of 83.78, a PEG ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The firm has a fifty day moving average price of $344.35 and a 200-day moving average price of $328.88.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The company had revenue of $1.34 billion for 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%.Cadence Design Systems’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business 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. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Loop Capital increased their target price on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research 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 company an “outperform” rating in a report on Tuesday, October 28th. Oppenheimer raised their price target on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 28th. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Finally, Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Fourteen 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.00.

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.