Platinum Investment Management Ltd. Has $2.56 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Platinum Investment Management Ltd. increased its stake in Cadence Design Systems by 30.9% in Q2, holding shares worth $2.56 million as per its latest SEC filing.
• Cadence Design Systems reported $1.65 EPS in its last quarterly results, surpassing analysts' expectations and indicating a 20.2% increase in revenue compared to the previous year.
• Institutional ownership of Cadence Design Systems is high, with 84.85% of shares held by institutional investors and several firms increasing their positions significantly during the second quarter.

Platinum Investment Management Ltd. grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 30.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,297 shares of the software maker's stock after purchasing an additional 1,960 shares during the quarter. Platinum Investment Management Ltd.'s holdings in Cadence Design Systems were worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. FengHe Fund Management Pte. Ltd. acquired a new position in Cadence Design Systems in the second quarter valued at approximately $21,355,000. Warren Street Wealth Advisors LLC acquired a new position in shares of Cadence Design Systems during the 2nd quarter valued at $206,000. Pure Financial Advisors LLC acquired a new position in shares of Cadence Design Systems during the 2nd quarter valued at $250,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Cadence Design Systems by 686.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker's stock valued at $108,103,000 after acquiring an additional 306,198 shares during the period. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Cadence Design Systems by 693.9% during the second quarter. SOA Wealth Advisors LLC. now owns 262 shares of the software maker's stock valued at $81,000 after purchasing an additional 229 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Up 0.2%

NASDAQ CDNS opened at $351.97 on Thursday. The firm has a market capitalization of $95.91 billion, a P/E ratio of 95.13, a PEG ratio of 4.61 and a beta of 0.99. The business has a fifty day simple moving average of $352.28 and a 200 day simple moving average of $312.46. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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 return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted $1.28 EPS. Cadence Design Systems's quarterly revenue 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. On average, analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the sale, the vice president directly owned 102,499 shares of the company's stock, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,180 shares of company stock valued at $762,882. Company insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

CDNS has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a report on Monday, July 28th. KeyCorp upped their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Stifel Nicolaus upped their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price 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. Finally, Needham & Company LLC upped their target price on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Twelve 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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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