Howe & Rusling Inc. Buys 7,068 Shares of Cadence Design Systems, Inc. $CDNS

by · The Markets Daily

Howe & Rusling Inc. lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 75.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,391 shares of the software maker’s stock after purchasing an additional 7,068 shares during the quarter. Howe & Rusling Inc.’s holdings in Cadence Design Systems were worth $5,051,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

CDNS has been the topic of several research reports. Wolfe Research restated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. 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. BNP Paribas Exane began coverage on shares of 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Thursday, November 13th. Finally, Mizuho increased their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Check Out Our Latest Research Report on Cadence Design Systems

Cadence Design Systems Price 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 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. The company’s fifty day simple moving average is $338.62 and its 200 day simple moving average is $329.73. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

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

Insider Activity 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 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 in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction 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 completion of the sale, the vice president directly owned 102,499 shares of the company’s stock, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,230 shares of company stock valued at $5,530,682 in the last ninety days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Profile

(Free Report)

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.

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