17,585 Shares in Cadence Design Systems, Inc. $CDNS Bought by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,585 shares of the software maker’s stock, valued at approximately $6,177,000. Cadence Design Systems accounts for 0.9% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barrett & Company Inc. purchased a new stake in shares of Cadence Design Systems during the second quarter worth approximately $31,000. Strategic Wealth Investment Group LLC acquired a new position in Cadence Design Systems during the 2nd quarter worth approximately $32,000. Promus Capital LLC purchased a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $33,000. Robbins Farley acquired a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Cadence Design Systems by 41.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 0.7%

Cadence Design Systems stock opened at $310.40 on Monday. The company has a market capitalization of $84.49 billion, a P/E ratio of 80.00, a PEG ratio of 3.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a 50-day simple moving average of $321.02 and a 200-day simple moving average of $332.58.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. 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. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted 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. Robert W. Baird lifted their price target on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Wolfe Research reissued an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Monday, December 22nd. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $379.11.

Insider Transactions at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total transaction of $60,746.40. Following the completion of the sale, the director owned 7,650 shares in the company, valued at $2,581,722. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction on Friday, December 5th. The shares were sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the transaction, the chief executive officer owned 195,844 shares in the company, valued at approximately $66,586,960. This represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,025 shares of company stock worth $20,054,246 over the last 90 days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Company 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.