Cadence Design Systems, Inc. $CDNS Shares Acquired by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its holdings in Cadence Design Systems by 5.8% in Q1, now owning 281,106 shares valued at approximately $71.49 million.
• Cadence Design Systems reported $1.65 earnings per share, exceeding the consensus estimate and indicating a year-over-year revenue growth of 20.2% to $1.28 billion.
• Recent analyst upgrades have led Cadence Design Systems to a consensus price target of $364.33, with many firms upgrading it to "buy" and raising their target prices significantly.

1832 Asset Management L.P. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 281,106 shares of the software maker's stock after purchasing an additional 15,443 shares during the quarter. 1832 Asset Management L.P. owned about 0.10% of Cadence Design Systems worth $71,494,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth about $348,000. Merit Financial Group LLC grew its holdings in shares of Cadence Design Systems by 42.6% during the 1st quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock worth $805,000 after purchasing an additional 946 shares during the period. Novem Group grew its holdings in shares of Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker's stock worth $1,034,000 after purchasing an additional 945 shares during the period. Seilern Investment Management Ltd purchased a new stake in shares of Cadence Design Systems during the 1st quarter worth about $64,800,000. Finally, Integrated Advisors Network LLC grew its holdings in shares of Cadence Design Systems by 156.9% during the 4th quarter. Integrated Advisors Network LLC now owns 3,406 shares of the software maker's stock worth $1,023,000 after purchasing an additional 2,080 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Down 0.3%

Shares of CDNS traded down $1.16 during trading on Tuesday, reaching $344.03. The company's stock had a trading volume of 1,718,578 shares, compared to its average volume of 2,028,734. The company has a fifty day moving average of $331.14 and a two-hundred day moving average of $296.38. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market cap of $93.74 billion, a price-to-earnings ratio of 92.98, a P/E/G ratio of 4.59 and a beta of 0.97. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $1.28 EPS. Cadence Design Systems's quarterly revenue was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDNS. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. Mizuho upped their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Robert W. Baird upped their price target on Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Rosenblatt Securities restated a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Finally, KeyCorp upped their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $358.72, for a total value of $358,720.00. Following the transaction, the vice president directly owned 104,499 shares of the company's stock, valued at $37,485,881.28. This represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of the transaction, the director directly owned 8,010 shares in the company, valued at approximately $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,830 shares of company stock worth $1,207,671. 0.37% of the stock is currently owned by corporate insiders.

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.