1,705 Shares in Cadence Design Systems, Inc. $CDNS Bought by Midwest Trust Co

Midwest Trust Co purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,705 shares of the software maker’s stock, valued at approximately $525,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Petros Family Wealth LLC boosted its holdings in shares of 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 during the period. Hemington Wealth Management raised its position in Cadence Design Systems by 14.0% during the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after purchasing an additional 32 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its position in shares of Cadence Design Systems by 2.8% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after buying an additional 33 shares during the last quarter. Empower Advisory Group LLC increased its stake in shares of Cadence Design Systems by 4.1% during the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after buying an additional 36 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of 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 valued at $3,392,000 after acquiring an additional 36 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research analyst reports. 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 objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Rosenblatt Securities upped their target price on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, Robert W. Baird increased their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the sale, the vice president directly owned 102,499 shares of the company’s stock, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,230 shares of company stock worth $5,530,682. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $318.51 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The company has a 50 day simple moving average of $343.44 and a two-hundred day simple moving average of $329.42. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a market capitalization of $86.70 billion, a price-to-earnings ratio of 82.09, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems 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.