Bank Hapoalim BM Takes Position in Cadence Design Systems, Inc. $CDNS

Bank Hapoalim BM purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel.com reports. The firm purchased 705 shares of the software maker’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNS. Smallwood Wealth Investment Management LLC purchased a new position in Cadence Design Systems during the 1st quarter worth $25,000. Costello Asset Management INC purchased a new position in Cadence Design Systems during the 1st quarter worth $25,000. Barrett & Company Inc. purchased a new position in Cadence Design Systems during the 2nd quarter worth $31,000. Saudi Central Bank purchased a new position in Cadence Design Systems during the 1st quarter worth $27,000. Finally, Valley National Advisers Inc. grew its stake in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after buying an additional 99 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CDNS shares. BNP Paribas started coverage on Cadence Design Systems in a research note on Thursday. 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 target price (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. BNP Paribas Exane started coverage on Cadence Design Systems in a research note on Thursday. They set an “outperform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated 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 directly owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock valued at $3,729,852 in the last quarter. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $347.27 on Friday. The stock has a market cap of $94.63 billion, a PE ratio of 93.86, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. The business has a 50-day simple moving average of $353.04 and a 200-day simple moving average of $313.74. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. 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 issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

About Cadence Design Systems

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.