Graham Capital Management L.P. Buys 3,589 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Graham Capital Management L.P. increased its stake in Cadence Design Systems by 381.4%, owning a total of 4,530 shares valued at approximately $1.15 million.
• Several institutional investors also acquired stakes in Cadence, including Valley National Advisers Inc., which lifted its position by 707.1% during the same quarter.
• Cadence Design Systems reported earnings of $1.65 per share, exceeding analyst expectations, with revenues up 20.2% year-over-year.

Graham Capital Management L.P. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 381.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,530 shares of the software maker's stock after purchasing an additional 3,589 shares during the quarter. Graham Capital Management L.P.'s holdings in Cadence Design Systems were worth $1,152,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CDNS. Vanguard Group Inc. raised its position in Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Jennison Associates LLC lifted its holdings in Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after buying an additional 1,054,702 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cadence Design Systems by 10.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock worth $1,326,912,000 after acquiring an additional 427,418 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Cadence Design Systems by 12.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,530,293 shares of the software maker's stock worth $760,314,000 after buying an additional 285,617 shares during the period. Finally, Invesco Ltd. raised its position in shares of Cadence Design Systems by 14.0% during the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after buying an additional 296,983 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction on 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 sale, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the transaction, the director directly owned 8,010 shares of the company's stock, valued at $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,180 shares of company stock worth $1,365,740. Insiders own 0.37% of the company's stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded up $8.97 during midday trading on Monday, reaching $359.98. The company's stock had a trading volume of 1,204,615 shares, compared to its average volume of 1,985,899. The firm has a market capitalization of $98.09 billion, a PE ratio of 97.37, a P/E/G ratio of 4.60 and a beta of 1.00. The stock's 50 day simple moving average is $339.27 and its 200 day simple moving average is $299.55. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. 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 (NASDAQ:CDNS - Get Free Report) last released 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. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $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. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CDNS shares. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities restated a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a research report on Friday, July 25th. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 30th. KeyCorp increased their target price on shares of 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, Needham & Company LLC raised their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.