Optimize Financial Inc Acquires 837 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Optimize Financial Inc increased its stake in Cadence Design Systems by 12.1%, acquiring 837 shares during the 1st quarter, bringing its total holdings to 7,728 shares valued at approximately $1.965 million.
• Cadence Design Systems recently reported $1.65 EPS for the quarter, exceeding analysts' expectations, with a revenue of $1.28 billion, a 20.2% increase from the previous year.
• Wall Street analysts have varying opinions on the stock, with a consensus rating of "Moderate Buy" and an average price target of $364.33.

Optimize Financial Inc raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 12.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,728 shares of the software maker's stock after purchasing an additional 837 shares during the quarter. Cadence Design Systems makes up 0.7% of Optimize Financial Inc's holdings, making the stock its 4th biggest position. Optimize Financial Inc's holdings in Cadence Design Systems were worth $1,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC boosted its holdings in Cadence Design Systems by 2.8% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker's stock valued at $309,000 after acquiring an additional 33 shares during the last quarter. Empower Advisory Group LLC raised its holdings in Cadence Design Systems by 4.1% during the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock worth $232,000 after purchasing an additional 36 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Cadence Design Systems by 0.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker's stock worth $3,392,000 after purchasing an additional 36 shares during the period. Principal Street Partners LLC boosted its stake in shares of Cadence Design Systems by 2.6% in the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after purchasing an additional 37 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Cadence Design Systems by 0.7% in the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock valued at $1,476,000 after purchasing an additional 39 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $360.64 on Tuesday. The business has a 50-day simple moving average of $340.32 and a 200 day simple moving average of $300.27. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The firm has a market capitalization of $98.27 billion, a price-to-earnings ratio of 97.47, a PEG ratio of 4.60 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share. 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, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of analyst reports. Needham & Company LLC lifted their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a "neutral" rating and set a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, August 31st. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $364.33.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president owned 102,499 shares in the company, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 4,000 shares of company stock worth $1,311,020. Insiders own 1.99% of the company's stock.

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.

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.