Cadence Design Systems, Inc. $CDNS Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 724.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,928 shares of the software maker’s stock after acquiring an additional 2,573 shares during the period. Fulcrum Asset Management LLP’s holdings in Cadence Design Systems were worth $949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bryn Mawr Trust Advisors LLC boosted its holdings in shares of Cadence Design Systems by 3.2% during the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 1,015 shares of the software maker’s stock valued at $335,000 after acquiring an additional 31 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in Cadence Design Systems by 68.4% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 640 shares of the software maker’s stock worth $211,000 after purchasing an additional 260 shares during the last quarter. Elite Wealth Management Inc. purchased a new stake in Cadence Design Systems in the third quarter worth approximately $5,233,000. Brighton Jones LLC boosted its holdings in Cadence Design Systems by 1.5% in the third quarter. Brighton Jones LLC now owns 3,684 shares of the software maker’s stock worth $1,217,000 after purchasing an additional 55 shares during the last quarter. Finally, Candriam S.C.A. grew its position in Cadence Design Systems by 11.7% in the 3rd quarter. Candriam S.C.A. now owns 311,375 shares of the software maker’s stock worth $103,187,000 after purchasing an additional 32,647 shares during the period. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Trading Up 1.2%

Shares of CDNS stock opened at $333.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.18. The company has a market cap of $91.46 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 3.12 and a beta of 1.10. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm has a fifty day moving average price of $320.47 and a 200-day moving average price of $327.74.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 26th. The software maker reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Cadence Design Systems had a return on equity of 26.56% and a net margin of 22.51%. Cadence Design Systems’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm earned $1.93 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 6.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $324.13, for a total transaction of $648,260.00. Following the transaction, the vice president directly owned 119,612 shares of the company’s stock, valued at $38,769,837.56. The trade was a 1.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 2,401 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $339.00, for a total value of $813,939.00. Following the transaction, the vice president owned 27,763 shares of the company’s stock, valued at approximately $9,411,657. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,736 shares of company stock valued at $3,772,365. 0.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDNS. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, October 27th. FBN Securities began coverage on Cadence Design Systems in a report on Friday, September 11th. They set an “outperform” rating and a $375.00 price target on the stock. Rothschild & Co Redburn raised their price target on Cadence Design Systems from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Cadence Design Systems from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $410.05.

Key Stories Impacting Cadence Design Systems

Investors following CDNS have been watching these stories:

• Positive Sentiment: Cadence’s new Edge AI subsystem and OrCAD Xplore launch highlight continued product development and may support demand for its design tools. Edge AI subsystem article OrCAD Xplore article
• Neutral Sentiment: Director Lewis Chew sold 375 shares, while VP Paul Scannell sold 2,401 shares under a pre-arranged Rule 10b5-1 plan. Insider sales can draw attention, though the planned nature of Scannell’s transaction makes it less clearly a signal about near-term prospects. Chew SEC filing Scannell SEC filing
• Negative Sentiment: One commentary warns CDNS could be overvalued despite the AI design-platform news, raising the risk that positive product developments are already reflected in the stock’s valuation. Valuation commentary

About Cadence Design Systems

Cadence Design Systems, Inc. develops software, hardware and intellectual property used to design and verify semiconductors and electronic systems. Its electronic design automation (EDA) tools help customers plan, build, test and analyze complex chips and circuit boards. The company also offers semiconductor intellectual property and hardware platforms for design prototyping and verification, as well as software for system analysis, including computational fluid dynamics and electromagnetic simulation.