Cadence Design Systems, Inc. $CDNS Stake Boosted by Callan Family Office LLC

Callan Family Office LLC increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 260.9% during the second quarter, HoldingsChannel reports. The firm owned 19,006 shares of the software maker’s stock after acquiring an additional 13,740 shares during the period. Callan Family Office LLC’s holdings in Cadence Design Systems were worth $5,857,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CDNS. Novem Group grew its stake in Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker’s stock valued at $1,034,000 after acquiring an additional 945 shares in the last quarter. Brookstone Capital Management grew its stake in Cadence Design Systems by 19.9% during the 1st quarter. Brookstone Capital Management now owns 17,430 shares of the software maker’s stock valued at $4,433,000 after acquiring an additional 2,898 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Cadence Design Systems by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after acquiring an additional 14,022 shares in the last quarter. GAMMA Investing LLC grew its stake in Cadence Design Systems by 22.5% during the 1st quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker’s stock valued at $1,218,000 after acquiring an additional 879 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Cadence Design Systems by 2.2% during the 1st quarter. Amalgamated Bank now owns 58,225 shares of the software maker’s stock valued at $14,808,000 after acquiring an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company’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 transaction, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock worth $3,729,852 over the last three months. 1.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday. KeyCorp lifted their target price on Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company 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 note on Sunday, September 21st. Fourteen equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $368.53.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $327.00 on Friday. The firm has a fifty day simple moving average of $351.68 and a 200-day simple moving average of $316.56. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock has a market capitalization of $89.10 billion, a price-to-earnings ratio of 88.38, a PEG ratio of 4.57 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. Cadence Design Systems’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $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, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share 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.