Frank Rimerman Advisors LLC Purchases 1,864 Shares of Cadence Design Systems, Inc. $CDNS

Frank Rimerman Advisors LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 61.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,895 shares of the software maker’s stock after buying an additional 1,864 shares during the period. Frank Rimerman Advisors LLC’s holdings in Cadence Design Systems were worth $1,508,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Costello Asset Management INC bought a new position in shares of Cadence Design Systems in the first quarter worth about $25,000. Saudi Central Bank purchased a new position in Cadence Design Systems in the 1st quarter worth approximately $27,000. Barrett & Company Inc. purchased a new position in Cadence Design Systems in the 2nd quarter worth approximately $31,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Cadence Design Systems by 41.1% in the 2nd 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 period. Finally, Princeton Global Asset Management LLC purchased a new stake in Cadence Design Systems during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 2.6%

Shares of NASDAQ CDNS opened at $303.21 on Wednesday. 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, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm’s 50-day moving average price is $339.25 and its 200-day moving average price is $329.89. The stock has a market capitalization of $82.53 billion, a price-to-earnings ratio of 78.15, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm’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, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business’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 transaction, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anirudh Devgan sold 5,550 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction 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 trade represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,230 shares of company stock worth $5,530,682. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CDNS shares. Mizuho boosted their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Oppenheimer lifted their target price on Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a report on Tuesday, October 28th. Finally, Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research note on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $376.00.

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.