Katamaran Capital LLP Takes Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Katamaran Capital LLP has made a significant investment in Cadence Design Systems, purchasing 14,300 shares valued at approximately $4.4 million, making it 4.1% of their investment portfolio.
• Various institutional investors, including Nuveen LLC and Jennison Associates LLC, have also recently increased or established stakes in Cadence Design Systems, reflecting strong interest in the company.
• Cadence Design Systems reported better-than-expected earnings for the last quarter, with an EPS of $1.65 and a revenue of $1.28 billion, an annual increase of 20.2%.

Katamaran Capital LLP purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,300 shares of the software maker's stock, valued at approximately $4,407,000. Cadence Design Systems comprises about 4.1% of Katamaran Capital LLP's investment portfolio, making the stock its 10th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDNS. Nuveen LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $289,744,000. Jennison Associates LLC increased its position in shares of Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after purchasing an additional 1,054,702 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker's stock valued at $242,468,000 after purchasing an additional 647,931 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock valued at $1,202,733,000 after purchasing an additional 312,757 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Down 0.4%

Shares of CDNS opened at $348.67 on Friday. 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 1 year low of $221.56 and a 1 year high of $376.45. The company has a 50 day simple moving average of $352.27 and a two-hundred day simple moving average of $316.16. The firm has a market cap of $95.01 billion, a P/E ratio of 94.24, a price-to-earnings-growth ratio of 4.59 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted $1.28 EPS. The company's revenue was up 20.2% on a year-over-year basis. 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 analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadence Design Systems in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Loop Capital increased their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Robert W. Baird increased 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. Finally, The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $368.53.

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company's stock, valued at $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,680 shares of company stock worth $3,729,852. 1.99% of the stock is currently owned by insiders.

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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