Strs Ohio Buys 9,845 Shares of Cadence Design Systems, Inc. $CDNS

Strs Ohio increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,820 shares of the software maker’s stock after acquiring an additional 9,845 shares during the period. Strs Ohio’s holdings in Cadence Design Systems were worth $21,823,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CDNS. Costello Asset Management INC bought a new stake in Cadence Design Systems during the first quarter worth about $25,000. Saudi Central Bank bought a new stake in Cadence Design Systems during the first quarter worth about $27,000. Barrett & Company Inc. bought a new stake in Cadence Design Systems during the second quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in 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 worth $39,000 after acquiring an additional 37 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Cadence Design Systems during the second quarter worth about $40,000. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDNS. Wells Fargo & Company boosted their price target on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday. Mizuho boosted their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Stifel Nicolaus boosted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. BNP Paribas Exane began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Cadence Design Systems in a research report on Thursday, July 10th. They set a “buy” rating and a $380.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $376.00.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the sale, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,680 shares of company stock valued at $3,371,132. 1.99% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $338.69 on Friday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The stock’s 50 day moving average is $346.26 and its 200-day moving average is $325.52. 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 company has a market capitalization of $92.29 billion, a price-to-earnings ratio of 87.29, a PEG ratio of 4.55 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results 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 company 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. The firm’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. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS 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.