Cadence Design Systems, Inc. $CDNS Shares Acquired by Csenge Advisory Group

Csenge Advisory Group lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 148.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,984 shares of the software maker’s stock after purchasing an additional 2,382 shares during the period. Csenge Advisory Group’s holdings in Cadence Design Systems were worth $1,400,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Barrett & Company Inc. bought 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 during the 2nd quarter valued at approximately $32,000. Promus Capital LLC bought a new position in Cadence Design Systems during the second quarter worth $33,000. Robbins Farley acquired a new position in Cadence Design Systems in the third quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after purchasing an additional 37 shares during the period. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 7,650 shares in the company, valued at $2,581,722. This represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,025 shares of company stock worth $20,369,946. Company insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

CDNS has been the topic of a number of recent research reports. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. BNP Paribas started coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. Robert W. Baird lifted their target price on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company upped their target price on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Rosenblatt Securities increased their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $380.72.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $317.45 on Friday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a market cap of $86.41 billion, a PE ratio of 81.82, a P/E/G ratio of 3.54 and a beta of 1.02. The stock has a 50 day simple moving average of $317.57 and a 200-day simple moving average of $333.58. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating 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 quarter in the previous year, the business earned $1.64 EPS. The firm’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 research analysts forecast 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.