Leelyn Smith LLC Increases Position in Cadence Design Systems, Inc. $CDNS

Leelyn Smith LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,574 shares of the software maker’s stock after purchasing an additional 347 shares during the quarter. Leelyn Smith LLC’s holdings in Cadence Design Systems were worth $1,101,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Petros Family Wealth LLC raised its holdings in Cadence Design Systems by 2.6% during the second quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock worth $394,000 after purchasing an additional 32 shares in the last quarter. Hemington Wealth Management raised its holdings in Cadence Design Systems by 14.0% during the second quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after purchasing an additional 32 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its holdings in Cadence Design Systems by 2.8% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after purchasing an additional 33 shares in the last quarter. Empower Advisory Group LLC raised its holdings in Cadence Design Systems by 4.1% during the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after purchasing an additional 36 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Cadence Design Systems by 0.3% during the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a “buy” rating and a $380.00 price target for the company. Loop Capital lifted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. BNP Paribas Exane began 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. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.71.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,680 shares of company stock valued at $3,729,852. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.3%

Shares of CDNS opened at $345.10 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The firm has a 50 day simple moving average of $346.99 and a 200-day simple moving average of $322.08. 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 cap of $94.04 billion, a price-to-earnings ratio of 93.27, a price-to-earnings-growth ratio of 4.42 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 19.88% and a return on equity of 29.65%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the company 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. Equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems Company Profile

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.