Mediolanum International Funds Ltd Purchases 6,134 Shares of Cadence Design Systems, Inc. $CDNS

Mediolanum International Funds Ltd raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.1% in the 2nd quarter, Holdings Channel reports. The firm owned 25,875 shares of the software maker’s stock after buying an additional 6,134 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Cadence Design Systems were worth $7,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tiemann Investment Advisors LLC grew its position in Cadence Design Systems by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock worth $324,000 after buying an additional 30 shares in the last quarter. Petros Family Wealth LLC boosted its position in shares of Cadence Design Systems by 2.6% during the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after acquiring an additional 32 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of Cadence Design Systems by 14.0% during the second quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after purchasing an additional 32 shares in the last quarter. Empower Advisory Group LLC increased its position in shares of Cadence Design Systems by 4.1% in the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after purchasing an additional 36 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock valued at $3,392,000 after purchasing an additional 36 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,230 shares of company stock valued at $5,530,682. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 0.5%

Shares of NASDAQ CDNS opened at $300.58 on Friday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market capitalization of $81.82 billion, a PE ratio of 77.47, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The firm has a fifty day simple moving average of $336.71 and a two-hundred day simple moving average of $329.48. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CDNS shares. Wolfe Research reissued an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. 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. BNP Paribas started coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Rosenblatt Securities upped their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, Robert W. Baird raised their price objective on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price 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.