KG&L Capital Management LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• KG&L Capital Management LLC acquired 1,020 shares of Cadence Design Systems, valued at approximately $314,000, signaling institutional interest in the software maker.
• Cadence Design Systems reported quarterly earnings of $1.65 EPS, surpassing estimates, with revenue up 20.2% year-over-year.
• Multiple analysts have raised their price targets for Cadence Design Systems, with JPMorgan raising it to $390.00, reflecting growing confidence in the company's performance.

KG&L Capital Management LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,020 shares of the software maker's stock, valued at approximately $314,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after buying an additional 676 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Cadence Design Systems in the 4th quarter valued at about $1,352,000. Summit Global Investments purchased a new position in Cadence Design Systems during the 1st quarter valued at about $750,000. Fifth Third Wealth Advisors LLC raised its position in Cadence Design Systems by 32.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,637 shares of the software maker's stock worth $1,942,000 after acquiring an additional 1,864 shares during the last quarter. Finally, Bowman & Co S.C. lifted its holdings in shares of Cadence Design Systems by 15.1% in the first quarter. Bowman & Co S.C. now owns 1,431 shares of the software maker's stock valued at $364,000 after purchasing an additional 188 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

CDNS opened at $350.11 on Monday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The company's 50 day simple moving average is $350.50 and its 200 day simple moving average is $311.20. The stock has a market capitalization of $95.40 billion, a PE ratio of 94.62, a P/E/G ratio of 4.59 and a beta of 1.00. 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 announced 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 company had revenue of $1.28 billion for the quarter, compared to analyst estimates 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 business 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. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Loop Capital boosted their price target on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a "neutral" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Needham & Company LLC upped their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $364.33.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value 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 trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director owned 7,830 shares of the company's stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,180 shares of company stock valued at $1,069,232 over the last 90 days. 0.37% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.