Stance Capital LLC Makes New $1.34 Million Investment in Cadence Design Systems, Inc. $CDNS

Stance Capital LLC purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,336 shares of the software maker’s stock, valued at approximately $1,336,000.

Several other large investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in shares of Cadence Design Systems by 62.9% in the first quarter. Vestmark Advisory Solutions Inc. now owns 4,976 shares of the software maker’s stock worth $1,266,000 after buying an additional 1,922 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Cadence Design Systems by 2.5% during the 1st quarter. Raymond James Financial Inc. now owns 587,009 shares of the software maker’s stock worth $149,294,000 after buying an additional 14,585 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Cadence Design Systems by 0.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 24,874 shares of the software maker’s stock worth $6,326,000 after buying an additional 206 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new position in Cadence Design Systems in the 1st quarter valued at $1,172,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares in the company, valued at $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total transaction of $60,746.40. Following the transaction, the director owned 7,650 shares in the company, valued at approximately $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,720 shares of company stock valued at $14,163,377 over the last quarter. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Down 3.6%

Shares of NASDAQ CDNS opened at $323.22 on Friday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm’s 50-day simple moving average is $326.91 and its 200 day simple moving average is $330.33. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The company has a market cap of $87.98 billion, a price-to-earnings ratio of 83.30, a price-to-earnings-growth ratio of 4.16 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last announced 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. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The company’s 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 and its 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 fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wells Fargo & Company raised their target price on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. BNP Paribas Exane initiated coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.11.

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.