J. Stern & Co. LLP Buys 4,865 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• J. Stern & Co. LLP increased its stake in Cadence Design Systems by 56.9% in the first quarter, acquiring an additional 4,865 shares, bringing their total holdings to 13,408 shares valued at approximately $3.41 million.
• Cadence Design Systems reported a strong quarterly earnings performance with an EPS of $1.65, exceeding estimates, and revenue up by 20.2% year-over-year at $1.28 billion.
• Recent analyst upgrades have raised the target prices for Cadence Design Systems, with firms like JPMorgan raising it from $330 to $390 and Wells Fargo from $365 to $405, reflecting a positive outlook on the stock.

J. Stern & Co. LLP lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 56.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,408 shares of the software maker's stock after acquiring an additional 4,865 shares during the quarter. Cadence Design Systems comprises about 0.3% of J. Stern & Co. LLP's investment portfolio, making the stock its 25th biggest holding. J. Stern & Co. LLP's holdings in Cadence Design Systems were worth $3,410,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Cadence Design Systems during the first quarter valued at approximately $7,012,000. Bank of Hawaii grew its position in Cadence Design Systems by 4.4% in the first quarter. Bank of Hawaii now owns 5,438 shares of the software maker's stock worth $1,383,000 after buying an additional 230 shares during the last quarter. Soros Capital Management LLC acquired a new position in Cadence Design Systems in the first quarter worth approximately $2,097,000. Thematics Asset Management grew its position in Cadence Design Systems by 7.3% in the first quarter. Thematics Asset Management now owns 183,049 shares of the software maker's stock worth $46,555,000 after buying an additional 12,396 shares during the last quarter. Finally, Mirova grew its position in Cadence Design Systems by 18.6% in the first quarter. Mirova now owns 14,901 shares of the software maker's stock worth $3,790,000 after buying an additional 2,337 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Mizuho raised their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday. Stifel Nicolaus raised 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. Finally, KeyCorp raised their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of "Moderate Buy" and a consensus target price 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 Friday, August 1st. The shares were sold at an average price of $358.72, for a total value of $358,720.00. Following the transaction, the vice president owned 104,499 shares in the company, valued at $37,485,881.28. This trade represents a 0.95% 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 Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the transaction, the director owned 8,010 shares in the company, valued at $2,435,040. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,830 shares of company stock worth $1,207,671 in the last quarter. Insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Down 1.1%

Shares of CDNS stock traded down $3.86 on Friday, hitting $350.43. The company's stock had a trading volume of 1,303,717 shares, compared to its average volume of 1,433,451. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm's fifty day moving average price is $334.39 and its 200-day moving average price is $297.41. The stock has a market capitalization of $95.49 billion, a price-to-earnings ratio of 94.71, a P/E/G ratio of 4.60 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) 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 analyst estimates of $1.25 billion. During the same quarter in the previous year, the business earned $1.28 EPS. Cadence Design Systems'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. Research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current 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.