Dynamic Technology Lab Private Ltd Makes New $2 Million Investment in Cadence Design Systems, Inc. $CDNS

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 6,475 shares of the software maker’s stock, valued at approximately $1,995,000.

Several other hedge funds have also recently modified their holdings of CDNS. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cadence Design Systems by 10.9% in the second 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. grew its holdings 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 valued at $452,669,000 after buying an additional 73,719 shares in the last quarter. EFG Asset Management North America Corp. bought a new stake in Cadence Design Systems in the 2nd quarter worth approximately $4,073,000. Nuveen LLC bought a new stake in Cadence Design Systems in the 1st quarter worth approximately $289,744,000. Finally, Lyell Wealth Management LP raised its holdings in shares of Cadence Design Systems by 4.9% during the 2nd quarter. Lyell Wealth Management LP now owns 50,339 shares of the software maker’s stock worth $15,512,000 after acquiring an additional 2,357 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $306.76 on Thursday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $338.62 and its two-hundred day simple moving average is $329.73. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The firm has a market cap of $83.50 billion, a price-to-earnings ratio of 79.06, a PEG ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The business’s 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. Analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the transaction, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anirudh Devgan sold 5,550 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 195,844 shares of the company’s stock, valued at $64,197,663.20. This represents a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,230 shares of company stock valued at $5,530,682 in the last ninety days. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent research reports. BNP Paribas Exane started 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a research report on Thursday, November 13th. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

About Cadence Design Systems

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.