Howe & Rusling Inc. Has $5.05 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Howe & Rusling Inc. raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 75.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,391 shares of the software maker’s stock after buying an additional 7,068 shares during the period. Howe & Rusling Inc.’s holdings in Cadence Design Systems were worth $5,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Costello Asset Management INC bought a new position in Cadence Design Systems in the 1st quarter valued at about $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems in the first quarter worth approximately $27,000. Barrett & Company Inc. bought a new position in shares of Cadence Design Systems in the second quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after buying an additional 37 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Cadence Design Systems during the second quarter worth $40,000. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Rosenblatt Securities upped their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Loop Capital upped their target price on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $376.00.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief executive officer owned 195,844 shares of the company’s stock, valued at $64,197,663.20. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,230 shares of company stock worth $5,530,682 over the last ninety days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $306.76 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 has a fifty day simple moving average of $338.62 and a two-hundred day simple moving average of $329.73. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The firm has a market cap of $83.50 billion, a price-to-earnings ratio of 79.06, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00.

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, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.