Lecap Asset Management Ltd. Takes $1.67 Million Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Lecap Asset Management Ltd. has acquired a new stake in Cadence Design Systems, Inc. worth approximately $1.67 million, demonstrating growing institutional interest in the company.
• Cadence Design Systems reported an earnings per share (EPS) of $1.65 for the last quarter, exceeding analysts' estimates and showing a significant 20.2% year-over-year revenue growth.
• Several analysts have recently upgraded their price targets for Cadence Design Systems, with a consensus target of $364.33 and the majority rating the stock as a "Moderate Buy."

Lecap Asset Management Ltd. purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,421 shares of the software maker's stock, valued at approximately $1,670,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNS. Brighton Jones LLC grew its holdings in shares of Cadence Design Systems by 80.2% in the 4th 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 during the period. Two Sigma Investments LP bought a new stake in Cadence Design Systems in the 4th quarter valued at $1,352,000. Fiduciary Alliance LLC bought a new stake in Cadence Design Systems in the 1st quarter valued at $282,000. NBC Securities Inc. lifted its position in Cadence Design Systems by 139,550.0% in the 1st quarter. NBC Securities Inc. now owns 2,793 shares of the software maker's stock valued at $710,000 after acquiring an additional 2,791 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in Cadence Design Systems by 42.6% in the 1st quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock valued at $805,000 after acquiring an additional 946 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Stock Up 0.2%

Shares of CDNS stock opened at $351.97 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The firm's 50-day moving average is $352.28 and its 200-day moving average is $312.46. The stock has a market cap of $95.91 billion, a price-to-earnings ratio of 95.13, a PEG ratio of 4.61 and a beta of 0.99. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $1.28 EPS. Cadence Design Systems's quarterly 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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the 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 sale, the vice president owned 102,499 shares of the company's stock, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,180 shares of company stock worth $762,882 in the last quarter. 1.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report 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 company an "outperform" rating in a research report on Monday, July 28th. KeyCorp boosted their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Loop Capital boosted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cadence Design Systems 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.

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