Clarendon Private LLC Purchases New Position in Cadence Design Systems, Inc. $CDNS

Clarendon Private LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,238 shares of the software maker’s stock, valued at approximately $381,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNS. Nuveen LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at about $289,744,000. Jennison Associates LLC raised its holdings in shares of Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock valued at $2,305,489,000 after buying an additional 1,054,702 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Cadence Design Systems by 466.4% in the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after buying an additional 647,931 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after buying an additional 429,955 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cadence Design Systems by 7.1% in the first 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 valued at $1,202,733,000 after buying an additional 312,757 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 6.2%

Shares of Cadence Design Systems stock opened at $327.00 on Friday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The company’s 50-day simple moving average is $351.68 and its 200-day simple moving average is $316.92. The firm has a market cap of $89.10 billion, a price-to-earnings ratio of 88.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly 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. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the transaction, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,680 shares of company stock worth $3,729,852. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDNS. Piper Sandler reaffirmed a “neutral” rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. BNP Paribas initiated coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. KeyCorp boosted their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $300.00 price target on shares of Cadence Design Systems in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $368.53.

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.