ZEGA Investments LLC Makes New $1.08 Million Investment in Cadence Design Systems, Inc. $CDNS

ZEGA Investments LLC bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,076 shares of the software maker’s stock, valued at approximately $1,080,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its position in Cadence Design Systems by 802.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 84,352 shares of the software maker’s stock worth $29,629,000 after buying an additional 75,009 shares during the period. First Horizon Corp acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at $952,000. MGO One Seven LLC boosted its stake in Cadence Design Systems by 75.6% during the 3rd quarter. MGO One Seven LLC now owns 9,273 shares of the software maker’s stock worth $3,257,000 after purchasing an additional 3,993 shares during the period. Meeder Asset Management Inc. boosted its stake in Cadence Design Systems by 32.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 185 shares of the software maker’s stock worth $65,000 after purchasing an additional 45 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in Cadence Design Systems by 13.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,962 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 459 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

CDNS stock opened at $325.51 on Tuesday. The firm has a 50 day moving average of $318.30 and a 200-day moving average of $333.45. The company has a market cap of $88.60 billion, a price-to-earnings ratio of 83.89, a PEG ratio of 3.65 and a beta of 1.02. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. 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 posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share 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 analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. Cadence Design Systems’s revenue was up 10.1% compared to the same quarter last year. 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. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research report on Monday, December 1st. Wolfe Research reissued an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, BNP Paribas began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $380.72.

Insider Buying and Selling

In related news, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 195,844 shares in the company, valued at $66,586,960. The trade was a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $315.70, for a total value of $315,700.00. Following the sale, the vice president owned 96,067 shares in the company, valued at approximately $30,328,351.90. This trade represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 62,025 shares of company stock valued at $20,369,946. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Company Profile

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.