Howe & Rusling Inc. Buys New Shares in Cadence Design Systems, Inc. $CDNS

Key Points

• Howe & Rusling Inc. acquired a new stake in Cadence Design Systems, purchasing 9,323 shares valued at approximately $2,371,000 in the first quarter.
• A significant proportion of Cadence Design Systems' stock, about 84.85%, is owned by hedge funds and institutional investors, indicating strong institutional interest.
• Cadence Design Systems reported earnings of $1.65 per share for the quarter, beating analyst expectations, and noted a 20.2% increase in quarterly revenue compared to the previous year.

Howe & Rusling Inc. bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,323 shares of the software maker's stock, valued at approximately $2,371,000.

Other institutional investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Cadence Design Systems during the first quarter worth approximately $25,000. Costello Asset Management INC purchased a new stake in Cadence Design Systems during the first quarter worth approximately $25,000. Saudi Central Bank purchased a new stake in Cadence Design Systems during the first quarter worth approximately $27,000. Valley National Advisers Inc. grew its stake 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 during the period. Finally, Meeder Asset Management Inc. grew its stake 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 during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 3,000 shares of company stock worth $1,009,020. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $354.70 on Friday. The company has a market capitalization of $96.65 billion, a PE ratio of 95.87, a price-to-earnings-growth ratio of 4.44 and a beta of 1.00. The firm has a fifty day simple moving average of $342.45 and a 200-day simple moving average of $301.66. 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 twelve month low of $221.56 and a twelve month 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 earnings per share for the quarter, beating 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 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 firm earned $1.28 earnings per share. The business's quarterly 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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Stifel Nicolaus boosted their price objective 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. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Finally, Piper Sandler restated a "neutral" rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.

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