Norden Group LLC Acquires 1,427 Shares of Cadence Design Systems, Inc. $CDNS

Norden Group LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 174.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,244 shares of the software maker’s stock after purchasing an additional 1,427 shares during the period. Norden Group LLC’s holdings in Cadence Design Systems were worth $691,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Accurate Wealth Management LLC lifted its holdings in shares of Cadence Design Systems by 11.2% in the second quarter. Accurate Wealth Management LLC now owns 1,727 shares of the software maker’s stock valued at $557,000 after purchasing an additional 174 shares in the last quarter. Fifth Third Bancorp lifted its stake in Cadence Design Systems by 4.5% during the 2nd quarter. Fifth Third Bancorp now owns 54,355 shares of the software maker’s stock valued at $16,749,000 after acquiring an additional 2,342 shares in the last quarter. BNC Wealth Management LLC lifted its stake in Cadence Design Systems by 0.6% during the 2nd quarter. BNC Wealth Management LLC now owns 23,250 shares of the software maker’s stock valued at $7,164,000 after acquiring an additional 145 shares in the last quarter. Covea Finance boosted its holdings in Cadence Design Systems by 9.4% during the 2nd quarter. Covea Finance now owns 56,061 shares of the software maker’s stock worth $17,275,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Crew Capital Management Ltd. bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth $924,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.7%

NASDAQ:CDNS opened at $351.06 on Friday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $349.81 and its 200 day moving average is $309.43. The stock has a market capitalization of $95.66 billion, a PE ratio of 94.88, a price-to-earnings-growth ratio of 4.68 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the business posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,180 shares of company stock worth $1,069,232 over the last 90 days. 1.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of 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. Piper Sandler restated a “neutral” rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Mizuho upped their target price on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. KeyCorp lifted their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $364.33.

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.