BDF Gestion Purchases Shares of 11,853 Cadence Design Systems, Inc. $CDNS

BDF Gestion purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,853 shares of the software maker’s stock, valued at approximately $4,163,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the 2nd quarter worth approximately $31,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $32,000. Saudi Central Bank bought a new stake in shares of Cadence Design Systems in the first quarter worth $27,000. Promus Capital LLC acquired a new position in Cadence Design Systems during the second quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC bought a new position in Cadence Design Systems in the third quarter valued at $39,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the sale, the vice president owned 97,067 shares in the company, valued at approximately $30,347,026.88. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. The trade was a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 69,525 shares of company stock worth $23,021,216. 1.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on CDNS shares. Rosenblatt Securities boosted their price target on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. BNP Paribas Exane initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research note on Monday, December 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $314.91 on Friday. The business’s 50 day moving average price is $324.04 and its two-hundred day moving average price is $331.03. The company has a market cap of $85.72 billion, a PE ratio of 81.16, a price-to-earnings-growth ratio of 4.05 and a beta of 1.05. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted $1.64 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. 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, analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.