OFI Invest Asset Management Acquires 168 Shares of Cadence Design Systems, Inc. $CDNS

OFI Invest Asset Management grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 71.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 404 shares of the software maker’s stock after acquiring an additional 168 shares during the quarter. OFI Invest Asset Management’s holdings in Cadence Design Systems were worth $124,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDNS. Brighton Jones LLC boosted its position in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares during the period. GAMMA Investing LLC boosted its position in shares of Cadence Design Systems by 22.5% in the first quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker’s stock valued at $1,218,000 after acquiring an additional 879 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at about $78,000. Dynamic Advisor Solutions LLC raised its stake in Cadence Design Systems by 9.5% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,613 shares of the software maker’s stock valued at $919,000 after purchasing an additional 313 shares in the last quarter. Finally, Factory Mutual Insurance Co. raised its stake in Cadence Design Systems by 18.7% in the first quarter. Factory Mutual Insurance Co. now owns 208,971 shares of the software maker’s stock valued at $53,148,000 after purchasing an additional 32,900 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. BNP Paribas Exane initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Mizuho boosted their price target on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,680 shares of company stock valued at $3,729,852. 0.37% of the stock is currently owned by insiders.

Cadence Design Systems Stock Down 6.2%

CDNS stock opened at $327.00 on Monday. The stock has a market capitalization of $89.10 billion, a P/E ratio of 88.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a 50-day moving average price of $351.68 and a 200-day moving average price of $317.30.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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.