Algert Global LLC Purchases Shares of 2,037 Cadence Design Systems, Inc. $CDNS

Key Points

• Algert Global LLC invested approximately $518,000 in Cadence Design Systems by acquiring 2,037 shares in the 1st quarter, contributing to the increasing interest from institutional investors.
• Cadence Design Systems reported a 20.2% year-over-year increase in quarterly revenue, reaching $1.28 billion along with earnings per share of $1.65, surpassing analysts' expectations.
• Several analysts have recently upgraded their ratings on Cadence Design Systems, with price targets now ranging from $350.00 to $395.00, indicating strong confidence in the company's performance.

Algert Global LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,037 shares of the software maker's stock, valued at approximately $518,000.

Other institutional investors have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the first quarter valued at $25,000. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems during the first quarter worth about $25,000. Valley National Advisers Inc. grew its stake 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 worth $28,000 after acquiring an additional 99 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Cadence Design Systems by 1,400.0% during the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Cadence Design Systems by 36.5% during the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Down 2.1%

NASDAQ:CDNS traded down $7.40 during trading hours on Friday, hitting $346.89. The company had a trading volume of 404,823 shares, compared to its average volume of 2,007,092. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $333.29 and a 200 day moving average of $297.06. The company has a market cap of $94.52 billion, a P/E ratio of 93.73, a P/E/G ratio of 4.55 and a beta of 0.97. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

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 for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company's revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target for the company. KeyCorp boosted their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Stifel Nicolaus boosted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a research note on Friday, July 25th. Finally, Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $364.33.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president owned 104,499 shares of the company's stock, valued at approximately $37,485,881.28. This represents a 0.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,830 shares of company stock worth $1,207,671. 1.99% of the stock is owned by corporate 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.