5,560 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Cardinal Point Capital Management ULC

Key Points

• Cardinal Point Capital Management ULC has acquired 5,560 shares of Cadence Design Systems, Inc., valued at approximately $1.7 million, signaling increasing institutional interest in the software maker.
• Cadence Design Systems reported $1.65 earnings per share for the last quarter, surpassing analysts' expectations of $1.56 and showing a 20.2% year-over-year revenue increase.
• Analysts have set ambitious price targets for Cadence, with BNP Paribas Exane and JPMorgan Chase increasing their target prices to $400 and $390, respectively, reflecting a strong consensus of "Moderate Buy" from thirteen research firms.

Cardinal Point Capital Management ULC acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,560 shares of the software maker's stock, valued at approximately $1,713,000.

Other hedge funds have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at about $25,000. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at about $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems during the first quarter valued at about $27,000. Valley National Advisers Inc. lifted its position in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after buying an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. purchased a new stake in shares of Cadence Design Systems during the second quarter valued at about $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $337.27 on Friday. The company's fifty day moving average price is $347.09 and its 200 day moving average price is $321.29. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The stock has a market capitalization of $91.90 billion, a P/E ratio of 91.15, a P/E/G ratio of 4.33 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly 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 net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the company earned $1.28 EPS. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. 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 research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CDNS. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an "outperform" rating and a $400.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research report on Wednesday. Mizuho increased their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Finally, Loop Capital increased their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $369.71.

Insider Activity at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director owned 7,830 shares of the company's stock, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,680 shares of company stock valued at $3,729,852. 1.99% of the stock is owned by company insiders.

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.

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