Coppell Advisory Solutions LLC Grows Position in Cadence Design Systems, Inc. $CDNS

Coppell Advisory Solutions LLC raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 104.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,399 shares of the software maker’s stock after acquiring an additional 2,243 shares during the period. Coppell Advisory Solutions LLC’s holdings in Cadence Design Systems were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CDNS. Tiemann Investment Advisors LLC lifted its position in Cadence Design Systems by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after purchasing an additional 30 shares during the last quarter. Petros Family Wealth LLC raised its position in shares of Cadence Design Systems by 2.6% during the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after buying an additional 32 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of Cadence Design Systems by 14.0% in the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after acquiring an additional 32 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after acquiring an additional 36 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after acquiring an additional 37 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the transaction, the director owned 7,650 shares in the company, valued at approximately $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,720 shares of company stock worth $14,163,377 over the last quarter. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. Robert W. Baird raised their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. KeyCorp reiterated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research note on Monday, December 1st. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Trading Down 3.6%

Shares of CDNS opened at $323.22 on Monday. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 83.30, a PEG ratio of 4.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a 50-day moving average of $326.91 and a 200 day moving average of $330.63.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $1.64 earnings per share. The company’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 and its Q4 2025 guidance at 1.880-1.940 EPS. On average, research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current 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.