Free Trial

Baer Investment Advisory LLC Grows Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cadence Design Systems logo with Computer and Technology background

Baer Investment Advisory LLC raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,693 shares of the software maker's stock after purchasing an additional 1,077 shares during the quarter. Cadence Design Systems accounts for about 4.4% of Baer Investment Advisory LLC's holdings, making the stock its 11th biggest holding. Baer Investment Advisory LLC's holdings in Cadence Design Systems were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNS. Vanguard Group Inc. grew its position in Cadence Design Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,909,187 shares of the software maker's stock valued at $7,784,674,000 after acquiring an additional 201,340 shares during the last quarter. FMR LLC boosted its stake in shares of Cadence Design Systems by 8.7% in the 4th quarter. FMR LLC now owns 7,978,652 shares of the software maker's stock valued at $2,397,266,000 after purchasing an additional 639,146 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cadence Design Systems by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,021,405 shares of the software maker's stock valued at $1,806,019,000 after purchasing an additional 135,251 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Cadence Design Systems by 12.5% during the 4th quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker's stock valued at $1,705,469,000 after purchasing an additional 632,175 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Cadence Design Systems by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 4,821,666 shares of the software maker's stock worth $1,448,718,000 after purchasing an additional 238,535 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS traded down $3.11 during trading hours on Monday, hitting $317.49. The company's stock had a trading volume of 1,862,609 shares, compared to its average volume of 2,091,803. The stock has a market cap of $86.69 billion, a price-to-earnings ratio of 80.38, a P/E/G ratio of 4.44 and a beta of 0.99. The business's 50-day moving average price is $307.83 and its 200-day moving average price is $287.26. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $330.09.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. Cadence Design Systems had a net margin of 22.18% and a return on equity of 29.36%. The business's revenue was up 23.1% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $306.35, for a total transaction of $306,350.00. Following the transaction, the vice president owned 105,499 shares of the company's stock, valued at approximately $32,319,618.65. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anirudh Devgan sold 10,737 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $310.00, for a total value of $3,328,470.00. Following the sale, the chief executive officer directly owned 209,548 shares of the company's stock, valued at $64,959,880. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,975 shares of company stock valued at $6,114,587. 1.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CDNS. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a research report on Thursday. They set a "buy" rating and a $380.00 price target on the stock. KeyCorp restated an "overweight" rating and issued a $358.00 target price (up previously from $340.00) on shares of Cadence Design Systems in a report on Thursday. Robert W. Baird upped their price target on shares of Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Mizuho boosted their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.07.

View Our Latest Analysis on Cadence Design Systems

Cadence Design Systems Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

Should You Invest $1,000 in Cadence Design Systems Right Now?

Before you consider Cadence Design Systems, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cadence Design Systems wasn't on the list.

While Cadence Design Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

 The Best Nuclear Energy Stocks to Buy Cover

Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Watch Before Monday: Stocks to Load Up on Before Earnings
3 Hot Growth Stocks to Watch Right Now!
Don’t Miss These Top 3 Defense Stocks Set To Gain

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines