Index Fund Advisors Inc. Invests $275,000 in Cadence Design Systems, Inc. $CDNS

Index Fund Advisors Inc. purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 893 shares of the software maker’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clarendon Private LLC acquired a new stake in shares of Cadence Design Systems during the second quarter worth $381,000. CWM LLC grew its stake in shares of Cadence Design Systems by 69.0% in the second quarter. CWM LLC now owns 12,247 shares of the software maker’s stock valued at $3,774,000 after acquiring an additional 5,002 shares in the last quarter. OFI Invest Asset Management increased its position in Cadence Design Systems by 71.2% during the second quarter. OFI Invest Asset Management now owns 404 shares of the software maker’s stock worth $124,000 after acquiring an additional 168 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Cadence Design Systems by 23.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,285 shares of the software maker’s stock worth $13,648,000 after purchasing an additional 8,510 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in Cadence Design Systems by 26.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,408 shares of the software maker’s stock valued at $434,000 after purchasing an additional 291 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,680 shares of company stock valued at $3,729,852. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CDNS shares. BNP Paribas began coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Mizuho upped their target price on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Wells Fargo & Company increased their target price on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $368.53.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $327.00 on Monday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The stock has a market cap of $89.10 billion, a PE ratio of 88.38, a P/E/G ratio of 4.29 and a beta of 0.99. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The business’s 50-day moving average price is $351.68 and its two-hundred day moving average price is $317.30.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.