Summit Investment Advisors Inc. Has $2.95 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Summit Investment Advisors Inc. lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,586 shares of the software maker’s stock after buying an additional 188 shares during the period. Summit Investment Advisors Inc.’s holdings in Cadence Design Systems were worth $2,947,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CDNS. Vanguard Group Inc. raised its stake in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after acquiring an additional 429,955 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Cadence Design Systems by 3.0% in the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after purchasing an additional 273,149 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cadence Design Systems by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after purchasing an additional 312,757 shares during the last quarter. Invesco Ltd. increased its position in shares of Cadence Design Systems by 14.0% during the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after purchasing an additional 296,983 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Cadence Design Systems by 3.4% during the 2nd quarter. Swedbank AB now owns 1,979,920 shares of the software maker’s stock valued at $610,112,000 after purchasing an additional 64,514 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $325.05 on Friday. The business’s 50-day simple moving average is $344.35 and its 200 day simple moving average is $328.44. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The stock has a market cap of $88.48 billion, a price-to-earnings ratio of 83.78, a P/E/G ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. 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, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a report on Wednesday, July 30th. Wall Street Zen lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Robert W. Baird increased their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fourteen 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. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus target price of $376.00.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems 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 completion of the sale, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were 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. The trade was a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,230 shares of company stock valued at $5,530,682 in the last three months. Insiders own 1.99% of the company’s stock.

About Cadence Design Systems

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.