Highview Capital Management LLC DE Increases Position in Cadence Design Systems, Inc. $CDNS

Highview Capital Management LLC DE boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,709 shares of the software maker’s stock after purchasing an additional 187 shares during the quarter. Highview Capital Management LLC DE’s holdings in Cadence Design Systems were worth $2,067,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CDNS. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cadence Design Systems by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after purchasing an additional 14,022 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cadence Design Systems by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,779,848 shares of the software maker’s stock worth $452,669,000 after buying an additional 73,719 shares in the last quarter. EFG Asset Management North America Corp. acquired a new position in shares of Cadence Design Systems during the second quarter valued at approximately $4,073,000. Nuveen LLC purchased a new position in shares of Cadence Design Systems in the first quarter valued at approximately $289,744,000. Finally, Lyell Wealth Management LP lifted its holdings in Cadence Design Systems by 4.9% in the 2nd quarter. Lyell Wealth Management LP now owns 50,339 shares of the software maker’s stock valued at $15,512,000 after purchasing an additional 2,357 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the sale, the vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anirudh Devgan sold 5,550 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the sale, the chief executive officer owned 195,844 shares in the company, valued at approximately $64,197,663.20. This trade represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,230 shares of company stock worth $5,530,682. 1.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CDNS. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Robert W. Baird upped their target price on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. BNP Paribas initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Loop Capital raised their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $303.21 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The firm has a market cap of $82.53 billion, a P/E ratio of 78.15, a P/E/G ratio of 4.55 and a beta of 1.00. The firm’s 50 day moving average price is $339.25 and its 200-day moving average price is $329.89. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping 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 business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business posted $1.64 earnings per share. The company’s quarterly 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. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.