Jackson Square Capital LLC Has $7.50 Million Position in Cadence Design Systems, Inc. $CDNS

Jackson Square Capital LLC boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 51.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,339 shares of the software maker’s stock after purchasing an additional 7,283 shares during the quarter. Cadence Design Systems comprises about 1.6% of Jackson Square Capital LLC’s portfolio, making the stock its 18th biggest holding. Jackson Square Capital LLC’s holdings in Cadence Design Systems were worth $7,496,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in shares of Cadence Design Systems in the first quarter valued at about $27,000. Barrett & Company Inc. bought a new position in Cadence Design Systems during the second quarter worth about $31,000. Strategic Wealth Investment Group LLC acquired a new stake in Cadence Design Systems in the 2nd quarter worth about $32,000. Promus Capital LLC bought a new stake in Cadence Design Systems in the 2nd quarter valued at about $33,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Cadence Design Systems by 41.1% during the 2nd 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 in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the sale, the chief financial officer owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the transaction, the director owned 7,650 shares of the company’s stock, valued at $2,581,722. This trade represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 69,525 shares of company stock worth $23,021,216 in the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 0.1%

Shares of CDNS stock opened at $314.91 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock’s fifty day moving average price is $324.04 and its two-hundred day moving average price is $331.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The company has a market cap of $85.72 billion, a PE ratio of 81.16, a P/E/G ratio of 4.05 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDNS. Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a research report on Monday, December 1st. Needham & Company LLC restated a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a research 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 research note on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $379.11.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.