Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Cadence Design Systems, Inc. NASDAQ: CDNS. In a filing disclosed on April 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Cadence Design Systems stock on March 17th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 3/13/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/13/2025.
- Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Reddit NYSE: RDDT on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 3/11/2025.
- Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 3/11/2025.
- Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 3/11/2025.
Cadence Design Systems Stock Up 0.4 %
CDNS stock traded up $1.09 on Monday, reaching $260.56. 1,453,240 shares of the company traded hands, compared to its average volume of 1,946,704. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The firm has a fifty day simple moving average of $261.43 and a 200-day simple moving average of $282.51. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $328.99. The company has a market cap of $71.48 billion, a P/E ratio of 67.50, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. Research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Loop Capital decreased their price target on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Redburn Atlantic initiated coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a "buy" rating and a $350.00 price objective on the stock. Bank of America cut their price objective on Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird decreased their target price on shares of Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Finally, Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus target price of $324.83.
Check Out Our Latest Research Report on Cadence Design Systems
Hedge Funds Weigh In On Cadence Design Systems
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $1,170,209,000. GAMMA Investing LLC raised its stake in Cadence Design Systems by 31,049.1% during the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock valued at $309,835,000 after purchasing an additional 1,214,330 shares in the last quarter. Schroder Investment Management Group lifted its position in Cadence Design Systems by 53.1% during the fourth quarter. Schroder Investment Management Group now owns 2,064,219 shares of the software maker's stock valued at $623,105,000 after purchasing an additional 716,041 shares during the last quarter. FMR LLC grew its stake in shares of Cadence Design Systems by 8.7% in the 4th quarter. FMR LLC now owns 7,978,652 shares of the software maker's stock worth $2,397,266,000 after buying an additional 639,146 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Cadence Design Systems by 12.5% in the 4th quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker's stock worth $1,705,469,000 after buying an additional 632,175 shares in the last quarter. 84.85% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the sale, the vice president now owns 58,123 shares of the company's stock, valued at approximately $14,689,425.79. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 1,950 shares of company stock valued at $518,499 over the last ninety days. 1.99% of the stock is owned by insiders.
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
About Cadence Design Systems
(
Get Free Report)
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.
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