Trek Financial LLC Makes New $3.75 Million Investment in Cadence Design Systems, Inc. $CDNS

Trek Financial LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,661 shares of the software maker’s stock, valued at approximately $3,745,000.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in Cadence Design Systems by 83.3% during the 3rd quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock worth $64,052,000 after purchasing an additional 82,856 shares during the period. Patton Fund Management Inc. grew its holdings in Cadence Design Systems by 1,743.7% during the third quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock worth $4,916,000 after acquiring an additional 13,235 shares during the period. Stanley Laman Group Ltd. purchased a new position in Cadence Design Systems during the third quarter valued at approximately $6,177,000. Westerkirk Capital Inc. acquired a new position in Cadence Design Systems in the second quarter valued at approximately $2,024,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after acquiring an additional 14,022 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity

In related news, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the transaction, the chief financial officer owned 69,957 shares in the company, valued at approximately $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the sale, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,025 shares of company stock worth $20,369,946 in the last quarter. Insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Citigroup began coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective for the company. Rosenblatt Securities raised their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Monday, December 22nd. Finally, JPMorgan Chase & Co. raised their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $379.59.

Cadence Design Systems Trading Up 0.4%

Shares of NASDAQ:CDNS traded up $1.23 during midday trading on Friday, reaching $318.32. 1,466,830 shares of the company’s stock were exchanged, compared to its average volume of 1,521,955. The firm’s 50 day simple moving average is $317.17 and its two-hundred day simple moving average is $333.24. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The stock has a market cap of $86.65 billion, a price-to-earnings ratio of 82.04, a P/E/G ratio of 3.54 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company posted $1.64 EPS. The firm’s quarterly revenue 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. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

About Cadence Design Systems

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.