Cadence Design Systems, Inc. $CDNS Shares Bought by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its stake in Cadence Design Systems, growing its holdings by 260.9% to own 19,006 shares valued at approximately $5.85 million.
• The company has received a range of ratings from analysts, with a consensus rating of "Moderate Buy" and a price target averaging $368.53.
• Cadence Design Systems reported strong quarterly earnings with an EPS of $1.65, exceeding expectations and showing a year-over-year revenue increase of 20.2%.

Callan Family Office LLC grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 260.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,006 shares of the software maker's stock after acquiring an additional 13,740 shares during the quarter. Callan Family Office LLC's holdings in Cadence Design Systems were worth $5,857,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at $25,000. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems during the first quarter valued at $25,000. Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems during the second quarter valued at $31,000. Saudi Central Bank acquired a new position in shares of Cadence Design Systems during the first quarter valued at $27,000. Finally, Valley National Advisers Inc. boosted its holdings 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 valued at $28,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Cadence Design Systems in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective on the stock. Rosenblatt Securities restated a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research note on Friday, July 25th. BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an "outperform" rating and a $400.00 price objective on the stock. Finally, Loop Capital lifted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $368.53.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the sale, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,680 shares of company stock worth $3,729,852. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $327.00 on Friday. 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's 50-day moving average price is $351.68 and its two-hundred day moving average price is $316.56. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market cap of $89.10 billion, a PE ratio of 88.38, a price-to-earnings-growth ratio of 4.57 and a beta of 0.99.

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

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.

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