Peregrine Capital Management LLC Has $30.40 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Peregrine Capital Management LLC boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.7% in the third quarter, Holdings Channel reports. The firm owned 86,533 shares of the software maker’s stock after purchasing an additional 9,052 shares during the quarter. Cadence Design Systems comprises about 0.9% of Peregrine Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Peregrine Capital Management LLC’s holdings in Cadence Design Systems were worth $30,396,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CDNS. Barrett & Company Inc. acquired a new stake in Cadence Design Systems in the 2nd quarter valued at $31,000. Robbins Farley bought a new position in shares of Cadence Design Systems during the third quarter valued at $35,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $32,000. Promus Capital LLC bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth about $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Cadence Design Systems during the 3rd quarter worth about $39,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Down 0.5%

NASDAQ:CDNS opened at $318.80 on Friday. The company has a market cap of $86.78 billion, a price-to-earnings ratio of 82.17, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock’s fifty day moving average price is $318.72 and its two-hundred day moving average price is $332.56. 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 released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. On average, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 27,805 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,025 shares of company stock worth $20,369,946. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent analyst reports. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Monday, December 22nd. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities boosted their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $379.11.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.