Rep. Robert Bresnahan, Jr. Purchases Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Cadence Design Systems, Inc. (NASDAQ:CDNS). In a filing disclosed on April 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Cadence Design Systems stock on March 17th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 3/13/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/13/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Reddit (NYSE:RDDT) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Oracle (NYSE:ORCL) on 3/11/2025.
• Purchased $1,001 – $15,000 in shares of International Business Machines (NYSE:IBM) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 3/11/2025.

Cadence Design Systems Trading Down 4.0 %

Shares of Cadence Design Systems stock opened at $254.02 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The stock has a market capitalization of $69.68 billion, a P/E ratio of 65.81, a P/E/G ratio of 3.88 and a beta of 1.14. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $328.99. The stock’s 50-day simple moving average is $262.24 and its 200 day simple moving average is $282.53.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total transaction of $164,216.00. Following the transaction, the vice president now directly owns 108,799 shares in the company, valued at $27,486,979.36. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,950 shares of company stock worth $518,499 in the last 90 days. 1.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cadence Design Systems

A number of large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Cadence Design Systems by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker’s stock valued at $672,300,000 after purchasing an additional 216,075 shares during the last quarter. Pittenger & Anderson Inc. grew its position in Cadence Design Systems by 50.1% during the fourth quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker’s stock valued at $1,589,000 after acquiring an additional 1,766 shares during the last quarter. Meridiem Investment Management Ltd. raised its stake in shares of Cadence Design Systems by 64.3% during the fourth quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker’s stock worth $235,625,000 after acquiring an additional 306,887 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Cadence Design Systems by 132.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock valued at $41,850,000 after purchasing an additional 79,268 shares in the last quarter. Finally, Avanza Fonder AB bought a new position in shares of Cadence Design Systems during the 4th quarter valued at $6,046,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the topic of a number of analyst reports. Bank of America decreased their price objective on Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Loop Capital lowered their price target on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Mizuho boosted their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and issued a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 19th. Finally, StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.83.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.