Ellevest Inc. Acquires Shares of 670 Cadence Design Systems, Inc. $CDNS

Ellevest Inc. acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 670 shares of the software maker’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in Cadence Design Systems in the first quarter valued at $25,000. Saudi Central Bank purchased a new position in shares of Cadence Design Systems in the 1st quarter valued at about $27,000. Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in 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, Princeton Global Asset Management LLC acquired a new position in Cadence Design Systems in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 30th. Loop Capital upped their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Oppenheimer upped their target price on Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Stock Up 0.2%

Cadence Design Systems stock opened at $325.05 on Friday. The stock has a 50 day moving average of $344.35 and a two-hundred day moving average of $327.95. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The stock has a market capitalization of $88.48 billion, a price-to-earnings ratio of 83.78, a PEG ratio of 4.55 and a beta of 1.00. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results 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 return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. 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, research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total value of $1,819,290.00. Following the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at approximately $64,197,663.20. The trade was a 2.76% decrease in their position. 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 business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,230 shares of company stock worth $5,530,682 over the last quarter. Insiders own 0.37% 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.