Savant Capital LLC Increases Stake in Cadence Design Systems, Inc. $CDNS

Savant Capital LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.9% in the second quarter, Holdings Channel.com reports. The firm owned 3,633 shares of the software maker’s stock after purchasing an additional 879 shares during the quarter. Savant Capital LLC’s holdings in Cadence Design Systems were worth $1,119,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CDNS. Texas Yale Capital Corp. raised its position in Cadence Design Systems by 6.6% in the 2nd quarter. Texas Yale Capital Corp. now owns 10,329 shares of the software maker’s stock worth $3,183,000 after purchasing an additional 635 shares during the period. SouthState Corp grew its stake in shares of Cadence Design Systems by 31.8% during the second quarter. SouthState Corp now owns 315 shares of the software maker’s stock valued at $97,000 after buying an additional 76 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Cadence Design Systems by 4.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 96,250 shares of the software maker’s stock valued at $29,616,000 after buying an additional 3,783 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Cadence Design Systems by 35.3% in the second quarter. Atlantic Union Bankshares Corp now owns 2,526 shares of the software maker’s stock worth $778,000 after buying an additional 659 shares during the period. Finally, EFG Asset Management North America Corp. bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $4,073,000. 84.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CDNS has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 30th. Oppenheimer raised their price target on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $315.35 on Thursday. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average price is $342.80 and its 200-day moving average price is $329.32. The firm has a market cap of $85.84 billion, a P/E ratio of 81.28, a P/E/G ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, equities research analysts expect 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 related news, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $64,197,663.20. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,230 shares of company stock valued at $5,530,682 in the last ninety days. Company insiders own 1.99% of the company’s stock.

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.