Hazlett Burt & Watson Inc. Raises Position in Cadence Design Systems, Inc. $CDNS

Hazlett Burt & Watson Inc. increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 73.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 380 shares of the software maker’s stock after buying an additional 161 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Cadence Design Systems were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CDNS. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth $25,000. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth $25,000. Saudi Central Bank purchased a new position in shares of Cadence Design Systems in the 1st quarter worth $27,000. Valley National Advisers Inc. raised its position in shares of Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after buying an additional 99 shares during the period. Finally, Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the 2nd quarter worth $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research report on Wednesday, October 8th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. Wall Street Zen lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. BNP Paribas began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $368.53.

Insider Activity

In other news, 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 transaction of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the sale, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock worth $3,729,852 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Cadence Design Systems Stock Up 1.6%

Shares of Cadence Design Systems stock opened at $332.23 on Tuesday. The business has a 50-day moving average of $351.02 and a 200-day moving average of $317.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market capitalization of $90.53 billion, a PE ratio of 89.79, a P/E/G ratio of 4.29 and a beta of 0.99. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems 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.