Campbell & CO Investment Adviser LLC Makes New $3.02 Million Investment in Cadence Design Systems, Inc. $CDNS

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 9,796 shares of the software maker’s stock, valued at approximately $3,019,000.

Several other hedge funds have also recently modified their holdings of the stock. Costello Asset Management INC purchased a new position in Cadence Design Systems during the first quarter valued at $25,000. Saudi Central Bank bought a new position in shares of Cadence Design Systems during the 1st quarter valued at about $27,000. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems during the second quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Cadence Design Systems by 41.1% in the second 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 during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Cadence Design Systems in the second quarter worth about $40,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 0.2%

Shares of CDNS opened at $325.05 on Monday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a market cap of $88.48 billion, a PE ratio of 83.78, a P/E/G ratio of 4.55 and a beta of 1.00. The business has a fifty day moving average of $344.35 and a 200 day moving average of $328.88.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates 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. Q4 2025 guidance at 1.880-1.940 EPS. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,230 shares of company stock worth $5,530,682. Corporate insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CDNS shares. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Oppenheimer boosted their price target on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 28th. BNP Paribas assumed 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 on the stock. Finally, BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.