1248 Management LLC Invests $125,000 in Cadence Design Systems, Inc. $CDNS

1248 Management LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 492 shares of the software maker’s stock, valued at approximately $125,000.

A number of other hedge funds have also modified their holdings of CDNS. Brighton Jones LLC grew its holdings in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the period. Highview Capital Management LLC DE grew its holdings in shares of Cadence Design Systems by 2.7% during the 4th quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker’s stock worth $1,894,000 after purchasing an additional 163 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Cadence Design Systems by 6.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,080,928 shares of the software maker’s stock worth $324,776,000 after purchasing an additional 69,456 shares during the period. NorthRock Partners LLC grew its holdings in shares of Cadence Design Systems by 65.2% during the 4th quarter. NorthRock Partners LLC now owns 3,367 shares of the software maker’s stock worth $1,012,000 after purchasing an additional 1,329 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Cadence Design Systems during the 4th quarter worth $1,217,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

CDNS stock opened at $354.70 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The firm has a market capitalization of $96.65 billion, a P/E ratio of 95.87, a P/E/G ratio of 4.44 and a beta of 1.00. The business’s 50-day moving average is $342.45 and its two-hundred day moving average is $301.66. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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 Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the sale, the vice president owned 102,499 shares of the company’s stock, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 3,000 shares of company stock worth $1,009,020. 1.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDNS. Piper Sandler reiterated a “neutral” rating and set a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Loop Capital raised their target price on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a “neutral” rating and set a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. Wells Fargo & Company raised their target price on Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $364.33.

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.