Benjamin Edwards Inc. Purchases 1,602 Shares of Cadence Design Systems, Inc. $CDNS

Benjamin Edwards Inc. increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,713 shares of the software maker’s stock after buying an additional 1,602 shares during the period. Benjamin Edwards Inc.’s holdings in Cadence Design Systems were worth $8,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Cadence Design Systems by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after acquiring an additional 256,719 shares in the last quarter. State Street Corp grew its holdings in shares of Cadence Design Systems by 1.4% in the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after purchasing an additional 172,551 shares in the last quarter. Jennison Associates LLC increased its position in Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after purchasing an additional 273,149 shares during the last quarter. Geode Capital Management LLC raised its stake in Cadence Design Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock valued at $1,952,771,000 after purchasing an additional 77,478 shares in the last quarter. Finally, Norges Bank purchased a new stake in Cadence Design Systems during the second quarter valued at $1,190,618,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Down 0.5%

Shares of NASDAQ:CDNS opened at $318.80 on Friday. The firm has a market capitalization of $86.78 billion, a PE ratio of 82.17, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. The business has a 50 day simple moving average of $318.72 and a two-hundred day simple moving average of $332.56. 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 0.48, a current ratio of 3.05 and a quick ratio of 2.84.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue for the quarter 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, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director owned 7,650 shares of the company’s stock, valued at $2,581,722. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction dated 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 sale, the chief executive officer 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. In the last 90 days, insiders sold 62,025 shares of company stock valued at $20,369,946. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CDNS shares. 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. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a research note on Monday, December 22nd. Wells Fargo & Company upped their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Oppenheimer raised 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 given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.11.

About Cadence Design Systems

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.