West Family Investments Inc. Buys 492 Shares of Cadence Design Systems, Inc. $CDNS

West Family Investments Inc. increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 47.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,526 shares of the software maker’s stock after acquiring an additional 492 shares during the quarter. West Family Investments Inc.’s holdings in Cadence Design Systems were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CDNS. Costello Asset Management INC purchased a new position in Cadence Design Systems during the 1st quarter worth $25,000. Barrett & Company Inc. bought a new position in shares of Cadence Design Systems during the second quarter valued at about $31,000. Saudi Central Bank purchased a new position in Cadence Design Systems during the first quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. grew its position in Cadence Design Systems by 41.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after purchasing an additional 37 shares in the last quarter. Finally, Key Financial Inc grew its position in Cadence Design Systems by 174.5% in the 2nd quarter. Key Financial Inc now owns 129 shares of the software maker’s stock worth $40,000 after purchasing an additional 82 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CDNS. Robert W. Baird boosted their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Oppenheimer increased their target price on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research report on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $376.47.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $311.90 on Friday. The company has a market cap of $84.90 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $331.64 and its two-hundred day simple moving average is $329.50. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating 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 company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $1.64 EPS. Cadence Design Systems’s revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $340.26, for a total transaction of $340,260.00. Following the sale, the vice president owned 98,067 shares of the company’s stock, valued at approximately $33,368,277.42. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is owned by company insiders.

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.