Cadence Design Systems, Inc. $CDNS Holdings Raised by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC increased its stake in Cadence Design Systems by 31.1% during Q2, owning 4,207 shares valued at approximately $1.3 million.
• Cadence Design Systems reported $1.65 EPS for the last quarter, exceeding analyst expectations of $1.56, with a year-over-year revenue increase of 20.2%.
• Wall Street analysts are optimistic, with several firms raising their target prices, resulting in an average target of $364.33 and a consensus rating of "Moderate Buy".

Ballentine Partners LLC increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 31.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,207 shares of the software maker's stock after purchasing an additional 997 shares during the quarter. Ballentine Partners LLC's holdings in Cadence Design Systems were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems in the 1st quarter worth approximately $25,000. Saudi Central Bank purchased a new position in Cadence Design Systems during the 1st quarter worth approximately $27,000. Valley National Advisers Inc. boosted its position in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after buying an additional 99 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings 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 valued at $44,000 after buying an additional 46 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $351.06 on Friday. The business's 50-day simple moving average is $349.81 and its 200-day simple moving average is $309.43. 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, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market cap of $95.66 billion, a price-to-earnings ratio of 94.88, a P/E/G ratio of 4.68 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company's revenue 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 research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president owned 102,499 shares of the company's stock, valued at approximately $35,254,531.05. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,180 shares of company stock valued at $1,069,232 in the last three months. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CDNS shares. Stifel Nicolaus upped their target price on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Loop Capital boosted their target price on Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research note on Wednesday, July 30th. KeyCorp boosted their price target 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. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $364.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.