Clear Harbor Asset Management LLC Purchases 2,665 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Clear Harbor Asset Management LLC increased its stake in Cadence Design Systems, Inc. by 20.4%, owning 15,732 shares valued at approximately $4.85 million after a purchase of 2,665 shares in Q2.
• Cadence Design Systems reported a 20.2% increase in quarterly revenue year-over-year, totaling $1.28 billion, and outperformed EPS estimates by $0.09.
• Shares of Cadence opened at $373.35, with a market capitalization of $101.73 billion and a current consensus analyst rating of "Moderate Buy" with a target price of $364.33.

Clear Harbor Asset Management LLC grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,732 shares of the software maker's stock after purchasing an additional 2,665 shares during the period. Clear Harbor Asset Management LLC's holdings in Cadence Design Systems were worth $4,848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. U.S. Capital Wealth Advisors LLC acquired a new position in Cadence Design Systems during the 2nd quarter worth approximately $223,000. Avanza Fonder AB lifted its position in Cadence Design Systems by 7.0% during the 2nd quarter. Avanza Fonder AB now owns 18,977 shares of the software maker's stock worth $5,848,000 after acquiring an additional 1,244 shares in the last quarter. Sowell Financial Services LLC lifted its position in Cadence Design Systems by 3.5% during the 2nd quarter. Sowell Financial Services LLC now owns 3,378 shares of the software maker's stock worth $1,041,000 after acquiring an additional 114 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in shares of Cadence Design Systems by 27.7% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 272 shares of the software maker's stock valued at $84,000 after purchasing an additional 59 shares in the last quarter. Finally, Walter Public Investments Inc. raised its position in shares of Cadence Design Systems by 6.5% in the 2nd quarter. Walter Public Investments Inc. now owns 66,600 shares of the software maker's stock valued at $20,523,000 after purchasing an additional 4,049 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded up $0.02 during trading on Monday, hitting $373.37. The stock had a trading volume of 1,613,992 shares, compared to its average volume of 1,797,423. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The firm has a market cap of $101.74 billion, a P/E ratio of 100.91, a PEG ratio of 4.90 and a beta of 1.00. The business has a fifty day moving average of $347.39 and a two-hundred day moving average of $307.88. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $1.28 earnings per share. Cadence Design Systems's revenue 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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDNS. Loop Capital upped their target price on Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday. 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. Mizuho boosted their price target on Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 price target on Cadence Design Systems in a report on Wednesday, July 30th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $364.33.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director owned 7,830 shares of the company's stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,180 shares of company stock worth $1,069,232. 0.37% of the stock is currently owned by insiders.

Cadence Design Systems 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.