Stevens Capital Management LP Buys New Position in Cadence Design Systems, Inc. $CDNS

Stevens Capital Management LP bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,397 shares of the software maker’s stock, valued at approximately $739,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CDNS. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at $25,000. Saudi Central Bank acquired a new stake in Cadence Design Systems during the 1st quarter worth about $27,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems during the 2nd quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after buying an additional 37 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Cadence Design Systems in the second quarter worth about $40,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $300.58 on Friday. The company’s fifty day moving average is $336.71 and its two-hundred day moving average is $329.48. The firm has a market capitalization of $81.82 billion, a price-to-earnings ratio of 77.47, a P/E/G ratio of 4.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $1.64 earnings per share. Cadence Design Systems’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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,230 shares of company stock valued at $5,530,682. Company insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CDNS. Oppenheimer lifted their price target on Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 28th. Piper Sandler restated a “neutral” rating and set a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Stifel Nicolaus lifted their target price on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Thursday, November 13th. Finally, Wolfe Research reissued an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus target price of $376.00.

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.