Midwest Trust Co Acquires New Position in Cadence Design Systems, Inc. $CDNS

Midwest Trust Co purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,705 shares of the software maker’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Costello Asset Management INC bought a new position in shares of Cadence Design Systems in the first quarter worth $25,000. Saudi Central Bank bought a new position in Cadence Design Systems in the 1st quarter worth about $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 position 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 purchased a new stake in shares of Cadence Design Systems in the second quarter worth about $40,000. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CDNS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Piper Sandler reissued a “neutral” rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. BNP Paribas began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price for the company. Finally, Robert W. Baird raised 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. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $376.00.

Insider Buying and Selling at Cadence Design Systems

In other news, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Down 3.2%

CDNS opened at $318.51 on Wednesday. The business’s fifty day simple moving average is $343.44 and its 200 day simple moving average is $329.42. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The stock has a market cap of $86.70 billion, a PE ratio of 82.09, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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, research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems Company 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.