692 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Western Wealth Management LLC

Western Wealth Management LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 692 shares of the software maker’s stock, valued at approximately $213,000.

Several other institutional investors also recently bought and sold shares of CDNS. Rockefeller Capital Management L.P. raised its stake in shares of Cadence Design Systems by 4.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 204,669 shares of the software maker’s stock valued at $63,069,000 after acquiring an additional 7,810 shares during the period. Jensen Investment Management Inc. increased its holdings in Cadence Design Systems by 50.5% in the 2nd quarter. Jensen Investment Management Inc. now owns 823,396 shares of the software maker’s stock valued at $253,729,000 after purchasing an additional 276,240 shares in the last quarter. LGT Capital Partners LTD. raised its position in Cadence Design Systems by 98.7% in the second quarter. LGT Capital Partners LTD. now owns 100,167 shares of the software maker’s stock valued at $30,866,000 after purchasing an additional 49,767 shares during the period. Creative Planning lifted its stake in shares of Cadence Design Systems by 53.1% during the second quarter. Creative Planning now owns 76,510 shares of the software maker’s stock worth $23,577,000 after purchasing an additional 26,534 shares in the last quarter. Finally, Advisory Resource Group boosted its position in shares of Cadence Design Systems by 3.1% in the second quarter. Advisory Resource Group now owns 4,102 shares of the software maker’s stock worth $1,264,000 after buying an additional 125 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,230 shares of company stock valued at $5,530,682 over the last ninety days. 1.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BNP Paribas started coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Stifel Nicolaus boosted their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Mizuho raised their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.00.

Cadence Design Systems Stock Up 1.2%

CDNS stock opened at $306.76 on Thursday. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48. The firm has a 50 day simple moving average of $338.62 and a 200-day simple moving average of $329.73. The company has a market capitalization of $83.50 billion, a P/E ratio of 79.06, a PEG ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

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