Texas Bank & Trust Co Takes Position in Cadence Design Systems, Inc. $CDNS

Texas Bank & Trust Co purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 750 shares of the software maker’s stock, valued at approximately $231,000.

A number of other large investors have also modified their holdings of the company. Costello Asset Management INC acquired a new position in Cadence Design Systems during the 1st quarter valued at about $25,000. Saudi Central Bank bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems during the second quarter worth 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 worth $39,000 after buying an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in Cadence Design Systems in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 30th. Wolfe Research reiterated an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Trading Up 0.8%

Shares of CDNS stock opened at $338.69 on Monday. The stock has a 50-day simple moving average of $346.26 and a 200 day simple moving average of $326.42. The stock has a market capitalization of $92.19 billion, a P/E ratio of 87.29, a P/E/G ratio of 4.55 and a beta of 0.99. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. 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 (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $1.64 EPS. Cadence Design Systems’s revenue 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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems 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 completion of the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,680 shares of company stock valued at $3,371,132 over the last ninety days. Insiders own 1.99% of the company’s stock.

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.