Walter Public Investments Inc. Acquires 4,049 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Walter Public Investments Inc. increased its stake in Cadence Design Systems by 6.5%, acquiring an additional 4,049 shares in the second quarter, which brings their total holdings to 66,600 shares worth approximately $20.5 million.
• A number of research analysts have raised their price targets for Cadence Design Systems, with estimates ranging from $364.33 to $405.00, indicating strong growth expectations for the company.
• Cadence Design Systems reported quarterly earnings of $1.65 per share, surpassing expectations and achieving a revenue increase of 20.2% year-over-year, with guidance for future earnings indicating continued optimism.

Walter Public Investments Inc. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,600 shares of the software maker's stock after purchasing an additional 4,049 shares during the quarter. Cadence Design Systems comprises 3.5% of Walter Public Investments Inc.'s investment portfolio, making the stock its 14th biggest holding. Walter Public Investments Inc.'s holdings in Cadence Design Systems were worth $20,523,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CDNS. Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after acquiring an additional 429,955 shares in the last quarter. Jennison Associates LLC boosted its holdings in Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after acquiring an additional 1,054,702 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cadence Design Systems by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock worth $1,202,733,000 after acquiring an additional 312,757 shares in the last quarter. Invesco Ltd. boosted its holdings in Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock worth $614,534,000 after acquiring an additional 296,983 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Cadence Design Systems by 0.4% in the first quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker's stock worth $571,208,000 after acquiring an additional 8,361 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded up $0.02 on Monday, hitting $373.37. 1,613,992 shares of the company's stock were exchanged, compared to its average volume of 2,019,306. The company has a 50-day simple moving average of $347.39 and a 200-day simple moving average of $307.88. The stock has a market capitalization of $101.74 billion, a PE ratio of 100.91, a PEG ratio of 4.90 and a beta of 1.00. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. 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 (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The business 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 business's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business 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, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

CDNS has been the topic of several analyst reports. Loop Capital boosted their target price on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Needham & Company LLC boosted their target price on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target for the company. Finally, Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research note on Wednesday, July 30th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $364.33.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director owned 7,830 shares of the company's stock, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,180 shares of company stock valued at $1,069,232. Company insiders own 0.37% of the company's stock.

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.