New Century Financial Group LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• New Century Financial Group LLC has made a fresh investment in Cadence Design Systems, Inc., acquiring 1,107 shares valued at approximately $341,000 during the second quarter.
• Insider transactions recently revealed that Director Ita M. Brennan sold 180 shares and VP Paul Cunningham sold 1,000 shares of Cadence stock, indicating a slight decrease in their respective holdings.
• Several brokerages, including BNP Paribas and JPMorgan Chase & Co., have set price targets for Cadence shares, with consensus estimates suggesting a potential for moderate buy sentiments among analysts.

New Century Financial Group LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,107 shares of the software maker's stock, valued at approximately $341,000.

Other hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new position in Cadence Design Systems during the first quarter valued at approximately $25,000. Costello Asset Management INC purchased a new stake in Cadence Design Systems during the 1st quarter worth $25,000. Saudi Central Bank acquired a new stake in Cadence Design Systems in the 1st quarter valued at $27,000. Valley National Advisers Inc. raised its position in Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after purchasing an additional 99 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on 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 directly owned 7,830 shares of the company's stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock worth $3,729,852 in the last three months. 1.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CDNS. BNP Paribas started coverage on Cadence Design Systems in a report on Thursday. They set an "outperform" rating and a $400.00 target price on the stock. JPMorgan Chase & Co. increased 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. Mizuho boosted their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Finally, 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 report on Tuesday, July 29th. Fourteen investment 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $368.53.

Cadence Design Systems Stock Down 1.3%

Shares of NASDAQ:CDNS opened at $347.24 on Friday. The company's fifty day moving average is $352.74 and its two-hundred day moving average is $313.09. 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, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock has a market capitalization of $94.62 billion, a price-to-earnings ratio of 93.85, a price-to-earnings-growth ratio of 4.62 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 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 the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company's revenue for the quarter 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 analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.

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