Phoenix Financial Ltd. Grows Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Phoenix Financial Ltd. increased its stake in Cadence Design Systems by 138.0%, owning 6,638 shares worth approximately $2,035,000 as of the latest SEC filing.
• Wall Street analysts show a range of ratings for Cadence Design Systems, with 13 analysts rating it as a Buy and target prices varying between $300.00 and $390.00.
• Insider trading activity has been noted, with CFO John M. Wall selling 7,500 shares, resulting in a 9.59% decrease in his holdings.

Phoenix Financial Ltd. lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 138.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,638 shares of the software maker's stock after purchasing an additional 3,849 shares during the quarter. Phoenix Financial Ltd.'s holdings in Cadence Design Systems were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter worth $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems during the 1st quarter worth about $25,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the 2nd quarter worth about $31,000. Saudi Central Bank acquired a new position in Cadence Design Systems during the 1st quarter worth about $27,000. Finally, Valley National Advisers Inc. lifted its stake in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDNS. Rosenblatt Securities reissued a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a research note on Friday, July 25th. Piper Sandler reissued a "neutral" rating and set a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. The Goldman Sachs Group began coverage on Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $368.53.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 7,500 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 70,715 shares of the company's stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the sale, the vice president directly owned 99,672 shares in the company, valued at $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,680 shares of company stock valued at $3,729,852. Corporate insiders own 0.37% of the company's stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $333.45 on Wednesday. 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 fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm has a market capitalization of $90.86 billion, a PE ratio of 90.12, a price-to-earnings-growth ratio of 4.32 and a beta of 0.99. The stock's 50-day simple moving average is $347.69 and its 200-day simple moving average is $320.51.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company earned $1.28 EPS. The business'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. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems 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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