Vise Technologies Inc. Purchases New Stake in Cadence Design Systems, Inc. $CDNS

Vise Technologies Inc. purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,308 shares of the software maker’s stock, valued at approximately $1,944,000.

A number of other large investors have also recently made changes to their positions in CDNS. Costello Asset Management INC bought a new stake in shares of Cadence Design Systems during the first quarter worth about $25,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the 2nd quarter valued at about $31,000. Saudi Central Bank bought a new stake in Cadence Design Systems during the 1st quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Cadence Design Systems by 41.1% in the second 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 during the last quarter. Finally, Key Financial Inc lifted its holdings in shares of Cadence Design Systems by 174.5% in the second quarter. Key Financial Inc now owns 129 shares of the software maker’s stock valued at $40,000 after purchasing an additional 82 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CDNS shares. Stifel Nicolaus upped their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Loop Capital upped their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Oppenheimer boosted their price target on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Fourteen 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Cadence Design Systems Stock Down 3.2%

Cadence Design Systems stock opened at $318.51 on Wednesday. The firm has a 50 day moving average price of $343.44 and a 200-day moving average price of $329.42. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market capitalization of $86.70 billion, a P/E ratio of 82.09, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Cadence Design Systems’s revenue for the quarter 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. Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction dated Wednesday, November 5th. The stock was 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. The trade was a 2.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,230 shares of company stock worth $5,530,682 over the last 90 days. 1.99% of the stock is owned by 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.