OFI Invest Asset Management Has $124,000 Stock Position in Cadence Design Systems, Inc. $CDNS

OFI Invest Asset Management boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 71.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 404 shares of the software maker’s stock after buying an additional 168 shares during the period. OFI Invest Asset Management’s holdings in Cadence Design Systems were worth $124,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. Valley National Advisers Inc. raised its holdings in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $31,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CDNS shares. Needham & Company LLC lifted their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Piper Sandler reiterated a “neutral” rating and issued a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. KeyCorp lifted their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $368.53.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock valued at $3,729,852 over the last ninety days. 0.37% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $327.00 on Monday. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $351.68 and a 200 day simple moving average of $317.30. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock has a market capitalization of $89.10 billion, a PE ratio of 88.38, a P/E/G ratio of 4.29 and a beta of 0.99.

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

About Cadence Design Systems

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.