Soros Capital Management LLC Purchases Shares of 8,244 Cadence Design Systems, Inc. $CDNS

Key Points

• Soros Capital Management LLC has made a new investment in Cadence Design Systems, Inc. by acquiring 8,244 shares valued at approximately $2.1 million during the first quarter.
• Analysts have revised their target prices for Cadence, with Stifel Nicolaus raising its target from $350 to $395, impacting the consensus rating to a "Moderate Buy".
• Cadence posted a quarterly EPS of $1.65, surpassing the consensus estimate of $1.56, with revenue increasing by 20.2% year-over-year to $1.28 billion.

Soros Capital Management LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,244 shares of the software maker's stock, valued at approximately $2,097,000.

Several other large investors have also recently added to or reduced their stakes in CDNS. GAMMA Investing LLC grew its stake in Cadence Design Systems by 31,049.1% during the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock worth $309,835,000 after buying an additional 1,214,330 shares during the last quarter. Nuveen LLC bought a new stake in Cadence Design Systems during the first quarter worth about $289,744,000. Jennison Associates LLC grew its stake in Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after buying an additional 1,054,702 shares during the last quarter. Vanguard Group Inc. grew its stake in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after buying an additional 429,955 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cadence Design Systems by 10.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock worth $1,326,912,000 after buying an additional 427,418 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president directly owned 104,499 shares of the company's stock, valued at $37,485,881.28. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the sale, the director owned 8,010 shares in the company, valued at approximately $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,830 shares of company stock worth $1,207,671. Insiders own 1.99% of the company's stock.

Cadence Design Systems Trading Down 1.1%

CDNS stock traded down $3.86 during midday trading on Friday, reaching $350.43. The company's stock had a trading volume of 1,290,885 shares, compared to its average volume of 2,008,222. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market cap of $95.49 billion, a PE ratio of 94.71, a price-to-earnings-growth ratio of 4.55 and a beta of 0.97. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business's 50-day simple moving average is $333.29 and its 200-day simple moving average is $297.06.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CDNS. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 price target on the stock. Rosenblatt Securities reissued a "neutral" rating and set a $300.00 price target on shares of Cadence Design Systems in a research note on Friday, July 25th. Robert W. Baird increased their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Mizuho increased their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, KeyCorp increased their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $364.33.

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.