Banco BTG Pactual S.A. Takes $1.18 Million Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Banco BTG Pactual S.A. has invested approximately $1.18 million in shares of Cadence Design Systems, Inc., acquiring 4,647 shares during the first quarter.
• Cadence Design Systems reported an earnings per share (EPS) of $1.65 for the latest quarter, exceeding analyst expectations of $1.56, with a revenue of $1.28 billion.
• Analysts maintain a generally positive outlook on Cadence Design Systems stock, with 12 analysts rating it as a Buy and an average price target of $364.33.

Banco BTG Pactual S.A. bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,647 shares of the software maker's stock, valued at approximately $1,182,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. acquired a new position in shares of Cadence Design Systems in the first quarter worth about $11,578,000. Capital Analysts LLC lifted its stake in shares of Cadence Design Systems by 46.2% in the first quarter. Capital Analysts LLC now owns 1,488 shares of the software maker's stock worth $378,000 after acquiring an additional 470 shares in the last quarter. Erste Asset Management GmbH lifted its stake in shares of Cadence Design Systems by 0.8% in the first quarter. Erste Asset Management GmbH now owns 41,069 shares of the software maker's stock worth $10,541,000 after acquiring an additional 331 shares in the last quarter. HMS Capital Management LLC lifted its stake in shares of Cadence Design Systems by 6.2% in the first quarter. HMS Capital Management LLC now owns 4,696 shares of the software maker's stock worth $1,098,000 after acquiring an additional 274 shares in the last quarter. Finally, Carmignac Gestion lifted its stake in shares of Cadence Design Systems by 42.6% in the first quarter. Carmignac Gestion now owns 424,823 shares of the software maker's stock worth $108,060,000 after acquiring an additional 126,960 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was 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 of the company's stock, valued at $2,435,040. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the 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 completion of the transaction, the vice president directly owned 104,499 shares of the company's stock, valued at $37,485,881.28. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,207,671 over the last quarter. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

CDNS has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Friday, July 25th. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target on the stock. Mizuho boosted their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. Finally, KeyCorp upped their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $4.26 on Monday, reaching $345.37. 330,165 shares of the company were exchanged, compared to its average volume of 2,026,290. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The company's 50-day moving average is $329.35 and its two-hundred day moving average is $295.73. The firm has a market cap of $94.11 billion, a price-to-earnings ratio of 93.54, a P/E/G ratio of 4.59 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 announced 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 for 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 business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $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. As a group, research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

About Cadence Design Systems

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.