In a recent filing with the Securities and Exchange Commission (SEC), &McGlone Suttner Wealth Management Inc. disclosed their acquisition of 1,231 shares of Cadence Design Systems, Inc. (NASDAQ: CDNS). The total value of this new position amounts to approximately $259,000. This development has piqued the interest of industry insiders and investors alike, as it sheds light on the growing importance of Cadence Design Systems within the software maker’s realm.
Cadence Design Systems is a global provider of software, hardware, services, and reusable integrated circuit (IC) design blocks. With its expansive range of offerings in functional verification services and emulation hardware, the company stands at the forefront of cutting-edge technology solutions. Notable products in its functional verification portfolio include JasperGold, Xcelium, Palladium, and Protium; platforms that have revolutionized formal verification processes and chip verification throughout various industries.
Looking specifically at CDNS stock performance, it opened at an impressive $234.52 on Monday. This marks a significant milestone for Cadence Design Systems as the company continues to prove its worth in the market. In fact, over the past twelve months alone, its stock has fluctuated between a low of $138.76 to a high of $242.65 – showcasing both stability and growth potential for investors.
With a market capitalization standing at an impressive $63.95 billion, Cadence Design Systems holds significant weight within the industry. Its success can be attributed in part to its favorable price-to-earnings ratio of 74.93 and price-to-earnings-growth ratio of 3.02; indicating promising returns for shareholders moving forward.
Furthermore, Cadence Design Systems exhibits stability through its beta value of 1.04 – indicating that the stock is relatively less volatile compared to others in the market – which could potentially attract risk-averse investors seeking steadiness in their portfolios.
Analyzing the company’s financial position, Cadence Design Systems boasts a quick ratio of 1.33 and current ratio of 1.44, indicating its ability to meet short-term obligations efficiently. Additionally, with a debt-to-equity ratio of 0.22, the company exhibits financial prudence and strength – factors that contribute to heightened investor confidence.
It is clear that Cadence Design Systems has firmly established itself as a key player within the software maker’s landscape. Its consistent growth trajectory and innovative offerings have propelled it to the forefront of industry conversations. As more investors take note of its market performance and acquisition activities by firms like &McGlone Suttner Wealth Management Inc., it is evident that Cadence Design Systems is poised for continued success in the future.
In conclusion, Cadence Design Systems’ recent acquisition by &McGlone Suttner Wealth Management Inc. underscores the growing importance of this software maker in the market. With a robust range of products and services, coupled with impressive financials and stock performance, it is no surprise that Cadence Design Systems has emerged as a formidable force within the industry. As investors continue to recognize its potential, it will be interesting to see how this innovative company propels itself forward in an ever-evolving technology landscape.
Cadence Design Systems, Inc.
Updated on: 03/03/2024
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
ROE: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
Cadence Design Systems: A Promising Future in Software and Hardware Design
Cadence Design Systems, Inc. is a global provider of software, hardware, services, and reusable integrated circuit (IC) design blocks. The company offers a range of functional verification services, including emulation and prototyping hardware. With its suite of verification platforms – JasperGold, Xcelium, Palladium, and Protium – Cadence Design Systems enables chip designers to efficiently validate their designs.
The recent modifications in holdings by hedge funds and institutional investors indicate a growing interest in Cadence Design Systems. Core Alternative Capital increased its position in the company by 60.6% during the first quarter, while ST Germain D J Co. Inc. acquired a new position in the company during the fourth quarter. Raleigh Capital Management Inc., Zions Bancorporation N.A., and Dark Forest Capital Management LP also increased their positions in Cadence Design Systems.
In terms of insider trading activity, insider Lip Bu Tan sold 42,500 shares of the company’s stock at an average price of $214.58 on April 14th. Following the transaction, Lip Bu Tan now owns 602,589 shares valued at $129,303,547.62. Additionally, VP Chin-Chi Teng sold 12,858 shares of Cadence Design Systems stock on June 16th at an average price of $239.54.
Turning to financial performance, Cadence Design Systems reported better-than-expected results for the quarter ended April 24th. The software maker recorded earnings per share (EPS) of $1.29 compared to analysts’ consensus estimate of $1.25. The firm generated revenue of $1.02 billion during the same period.
In terms of analyst coverage and recommendations on CDNS shares, several equities analysts have commented on the company’s prospects. Bank of America increased their target price from $225 to $240 and Wells Fargo & Company raised their target price from $215 to $235, giving Cadence Design Systems an “overweight” rating. KeyCorp raised their price target to $235, while Robert W. Baird raised theirs to $223. However, StockNews.com downgraded the stock from a “buy” rating to a “hold” rating.
Based on data from Bloomberg, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.80.
With its strong financial performance, growing interest from institutional investors, and positive analyst sentiment, Cadence Design Systems appears well-positioned for future growth in the software and hardware design industry. The company’s suite of verification platforms will likely continue to drive innovation and efficiency in chip design, making it an attractive investment option for both individual and institutional investors alike.