Golden State Equity Partners Acquires New Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Golden State Equity Partners has acquired a new stake in Cadence Design Systems, purchasing 860 shares valued at approximately $265,000 during the second quarter.
• Cadence Design Systems received multiple upgrades from analysts with the consensus price target now set at $364.33, reflecting a "Moderate Buy" rating.
• Insider selling has been reported, with VP Paul Cunningham selling 1,000 shares on September 2nd, while insiders overall sold 3,180 shares worth over $1 million in the last quarter.

Golden State Equity Partners acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 860 shares of the software maker's stock, valued at approximately $265,000.

Other hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at approximately $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems during the first quarter worth approximately $25,000. Saudi Central Bank bought a new stake in Cadence Design Systems during the first quarter worth approximately $27,000. Valley National Advisers Inc. boosted its holdings in Cadence Design Systems by 707.1% during 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 in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Cadence Design Systems by 36.5% during the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CDNS shares. Robert W. Baird raised their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. The Goldman Sachs Group started coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 30th. Piper Sandler restated a "neutral" rating and set a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Finally, Mizuho raised their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a report 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction 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 transaction, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director 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 sold a total of 3,180 shares of company stock worth $1,069,232 in the last quarter. Insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Down 1.9%

Cadence Design Systems stock opened at $366.30 on Wednesday. The company has a market capitalization of $99.81 billion, a P/E ratio of 99.00, a P/E/G ratio of 4.90 and a beta of 1.00. The firm's fifty day simple moving average is $348.35 and its 200-day simple moving average is $308.28. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. 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 released its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion for 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%. Cadence Design Systems's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last 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. Sell-side analysts forecast 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.

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