Y Intercept Hong Kong Ltd Purchases Shares of 1,955 Cadence Design Systems, Inc. $CDNS

Y Intercept Hong Kong Ltd bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,955 shares of the software maker’s stock, valued at approximately $602,000.

A number of other hedge funds also recently modified their holdings of CDNS. Brighton Jones LLC lifted its stake in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares during the last quarter. Mutual Advisors LLC lifted its stake in shares of Cadence Design Systems by 6.3% during the 1st quarter. Mutual Advisors LLC now owns 1,148 shares of the software maker’s stock worth $292,000 after buying an additional 68 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Cadence Design Systems by 8.0% during the 1st quarter. D.A. Davidson & CO. now owns 3,147 shares of the software maker’s stock worth $800,000 after buying an additional 232 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Cadence Design Systems by 11.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,117 shares of the software maker’s stock worth $284,000 after buying an additional 113 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Cadence Design Systems by 1.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 15,419 shares of the software maker’s stock worth $3,922,000 after buying an additional 243 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Oppenheimer lifted their price objective on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Price Performance

CDNS stock opened at $327.63 on Thursday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market cap of $89.18 billion, a P/E ratio of 84.44, a P/E/G ratio of 4.55 and a beta of 1.00. The company’s 50-day moving average price is $345.46 and its two-hundred day moving average price is $327.46.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $1.64 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the sale, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,680 shares of company stock valued at $3,711,392. 0.37% of the stock is owned by insiders.

About Cadence Design Systems

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.