Clarendon Private LLC Buys New Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Clarendon Private LLC acquired a new stake in Cadence Design Systems, purchasing 1,238 shares valued at approximately $381,000 in the second quarter.
• Institutional investors now hold nearly 85% of the company's stock, with several firms significantly increasing their positions during the same quarter.
• Cadence Design Systems reported an earnings per share of $1.65 for the last quarter, exceeding analysts' expectations and showcasing a 20.2% increase in revenue compared to the previous year.

Clarendon Private LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,238 shares of the software maker's stock, valued at approximately $381,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in Cadence Design Systems by 69.0% in the 2nd quarter. CWM LLC now owns 12,247 shares of the software maker's stock valued at $3,774,000 after purchasing an additional 5,002 shares during the last quarter. OFI Invest Asset Management increased its holdings in Cadence Design Systems by 71.2% in the 2nd quarter. OFI Invest Asset Management now owns 404 shares of the software maker's stock valued at $124,000 after purchasing an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Cadence Design Systems by 23.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,285 shares of the software maker's stock worth $13,648,000 after acquiring an additional 8,510 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Cadence Design Systems by 26.1% during the second quarter. Concurrent Investment Advisors LLC now owns 1,408 shares of the software maker's stock worth $434,000 after acquiring an additional 291 shares during the period. Finally, Hemington Wealth Management increased its position in shares of Cadence Design Systems by 14.0% during the second quarter. Hemington Wealth Management now owns 261 shares of the software maker's stock worth $80,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 7,500 shares of the business's stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 70,715 shares of the company's stock, valued at $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 is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares of the company's stock, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock valued at $3,729,852 over the last ninety days. Insiders own 1.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Loop Capital upped their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. KeyCorp upped their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Finally, The Goldman Sachs Group assumed coverage on Cadence Design Systems in a research report on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $368.53.

Cadence Design Systems Stock Performance

Shares of CDNS 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 firm has a fifty day moving average price of $351.68 and a 200 day moving average price of $316.92. The company has a market cap of $89.10 billion, a P/E ratio of 88.38, a PEG ratio of 4.29 and a beta of 0.99. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.

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