Index Fund Advisors Inc. Purchases Shares of 893 Cadence Design Systems, Inc. $CDNS

Index Fund Advisors Inc. purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 893 shares of the software maker’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Novem Group lifted its holdings in Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker’s stock worth $1,034,000 after buying an additional 945 shares during the period. Brookstone Capital Management raised its position in shares of Cadence Design Systems by 19.9% during the first quarter. Brookstone Capital Management now owns 17,430 shares of the software maker’s stock worth $4,433,000 after acquiring an additional 2,898 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after acquiring an additional 14,022 shares during the period. GAMMA Investing LLC boosted its holdings in Cadence Design Systems by 22.5% in the first quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker’s stock valued at $1,218,000 after acquiring an additional 879 shares during the last quarter. Finally, Amalgamated Bank increased its position in Cadence Design Systems by 2.2% during the 1st quarter. Amalgamated Bank now owns 58,225 shares of the software maker’s stock valued at $14,808,000 after purchasing an additional 1,228 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock valued at $3,729,852 over the last ninety days. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Loop Capital boosted their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $327.00 on Monday. The firm has a market capitalization of $89.10 billion, a P/E ratio of 88.38, a P/E/G ratio of 4.29 and a beta of 0.99. The firm’s 50-day moving average price is $351.68 and its 200-day moving average price is $317.30. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. 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 issued its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $1.28 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share 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.