Trek Financial LLC Invests $3.75 Million in Cadence Design Systems, Inc. $CDNS

Trek Financial LLC purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,661 shares of the software maker’s stock, valued at approximately $3,745,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CDNS. PFG Investments LLC purchased a new position in Cadence Design Systems in the third quarter valued at $229,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Cadence Design Systems by 131.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 4,520 shares of the software maker’s stock valued at $1,588,000 after acquiring an additional 2,565 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Cadence Design Systems by 40.4% during the 3rd quarter. UniSuper Management Pty Ltd now owns 162,127 shares of the software maker’s stock worth $56,949,000 after acquiring an additional 46,658 shares in the last quarter. Westfuller Advisors LLC acquired a new position in Cadence Design Systems in the third quarter valued at approximately $129,000. Finally, Teacher Retirement System of Texas increased its stake in Cadence Design Systems by 24.9% in the third quarter. Teacher Retirement System of Texas now owns 88,040 shares of the software maker’s stock valued at $30,925,000 after purchasing an additional 17,577 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

NASDAQ:CDNS traded up $1.23 during midday trading on Friday, reaching $318.32. The stock had a trading volume of 1,466,830 shares, compared to its average volume of 1,521,955. The stock has a market cap of $86.65 billion, a P/E ratio of 82.04, a P/E/G ratio of 3.54 and a beta of 1.02. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm has a fifty day simple moving average of $317.17 and a two-hundred day simple moving average of $333.24.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $1.64 EPS. 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 and its Q4 2025 guidance at 1.880-1.940 EPS. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 5,490 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the transaction, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anirudh Devgan sold 20,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at approximately $66,586,960. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,025 shares of company stock worth $20,369,946 in the last three months. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CDNS. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Rosenblatt Securities raised 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. JPMorgan Chase & Co. boosted their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Wolfe Research restated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $379.59.

About Cadence Design Systems

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.