Rezny Wealth Management Inc. Acquires Shares of 38,505 Cadence Design Systems, Inc. $CDNS

Rezny Wealth Management Inc. purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 38,505 shares of the software maker’s stock, valued at approximately $13,525,000. Cadence Design Systems comprises 2.8% of Rezny Wealth Management Inc.’s holdings, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in Cadence Design Systems by 83.3% in the 3rd quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock worth $64,052,000 after purchasing an additional 82,856 shares during the last quarter. Westerkirk Capital Inc. acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $2,024,000. Patton Fund Management Inc. increased its stake in shares of Cadence Design Systems by 1,743.7% in the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock valued at $4,916,000 after buying an additional 13,235 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cadence Design Systems by 10.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after acquiring an additional 14,022 shares during the last quarter. Finally, EFG Asset Management North America Corp. acquired a new position in shares of Cadence Design Systems during the second quarter valued at $4,073,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CDNS. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Wolfe Research reaffirmed an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $379.11.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the sale, the vice president directly owned 97,067 shares in the company, valued at approximately $30,347,026.88. This trade represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total transaction of $60,746.40. Following the completion of the transaction, the director owned 7,650 shares of the company’s stock, valued at $2,581,722. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,025 shares of company stock worth $20,054,246 in the last quarter. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $310.40 on Friday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a market cap of $84.49 billion, a PE ratio of 80.00, a P/E/G ratio of 3.47 and a beta of 1.02. The business’s 50-day moving average price is $321.02 and its two-hundred day moving average price is $332.33.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly 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 return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.