27,583 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has acquired 27,583 shares of Cadence Design Systems, Inc., valued at approximately $7,015,000.
• Analysts have a consensus rating of "Moderate Buy" for Cadence Design Systems, with a price target average of $364.33, while Wells Fargo and KeyCorp both raised their targets to $405.00.
• Cadence Design Systems reported a quarterly earnings per share (EPS) of $1.65, exceeding the consensus estimate, with a revenue of $1.28 billion, marking a 20.2% year-over-year increase.

Cinctive Capital Management LP bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,583 shares of the software maker's stock, valued at approximately $7,015,000.

Other large investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Cadence Design Systems during the 4th quarter valued at about $348,000. Merit Financial Group LLC increased its stake in 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 valued at $805,000 after buying an additional 946 shares during the period. Novem Group grew its stake in shares of Cadence Design Systems by 30.3% in 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 last quarter. Seilern Investment Management Ltd acquired a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $64,800,000. Finally, Integrated Advisors Network LLC grew its stake in shares of Cadence Design Systems by 156.9% in 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 last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Trading Up 2.7%

Shares of CDNS traded up $9.63 during midday trading on Monday, hitting $360.64. The stock had a trading volume of 1,762,408 shares, compared to its average volume of 1,989,631. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The business has a 50-day simple moving average of $339.27 and a two-hundred day simple moving average of $299.55. The firm has a market cap of $98.27 billion, a P/E ratio of 97.47, a price-to-earnings-growth ratio of 4.60 and a beta of 1.00. The company has a current ratio of 2.82, a quick ratio of 2.67 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 EPS for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the company posted $1.28 earnings per share. The business's revenue for the quarter 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. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CDNS shares. Mizuho lifted their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Needham & Company LLC lifted their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Loop Capital lifted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $364.33.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the sale, the director owned 8,010 shares of the company's stock, valued at approximately $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,180 shares of company stock valued at $1,365,740. Corporate 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.