State of Wyoming Makes New $243,000 Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• The State of Wyoming has made a new investment of approximately $243,000 in Cadence Design Systems, acquiring 955 shares of the software maker.
• Recent hedge fund activities include multiple new stakes, with Valley National Advisers increasing its position by over 700% and Ancora Advisors lifting theirs by 1,400%.
• Cadence Design Systems reported an earnings per share of $1.65 for the last quarter, exceeding estimates, while its annual revenue grew 20.2% year-over-year.

State of Wyoming acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 955 shares of the software maker's stock, valued at approximately $243,000.

Other hedge funds also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth approximately $25,000. Costello Asset Management INC acquired a new stake in Cadence Design Systems during the 1st quarter worth approximately $25,000. Valley National Advisers Inc. lifted its position 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 during the period. Ancora Advisors LLC lifted its position in Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Cadence Design Systems by 36.5% during the 1st quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after acquiring an additional 46 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $358.72, for a total value of $358,720.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $54,720.00. Following the transaction, the director directly owned 8,010 shares of the company's stock, valued at $2,435,040. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,180 shares of company stock valued at $1,021,790 over the last ninety days. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of recent research reports. Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. 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. KeyCorp increased their target price 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. Finally, Stifel Nicolaus increased their target price 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. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $364.33.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $347.32 on Thursday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a market capitalization of $94.64 billion, a P/E ratio of 93.87, a PEG ratio of 4.60 and a beta of 1.00. The business has a 50 day moving average price of $337.44 and a 200 day moving average price of $298.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $1.28 EPS. Cadence Design Systems'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. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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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