Cadence Design Systems, Inc. $CDNS Shares Sold by Wealth Architects LLC

Wealth Architects LLC cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,149 shares of the software maker’s stock after selling 221 shares during the period. Wealth Architects LLC’s holdings in Cadence Design Systems were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after purchasing an additional 429,955 shares during the period. Jennison Associates LLC grew its holdings in Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after acquiring an additional 1,054,702 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cadence Design Systems by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after acquiring an additional 312,757 shares during the period. Invesco Ltd. grew its holdings in Cadence Design Systems by 14.0% during the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after acquiring an additional 296,983 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Cadence Design Systems by 0.4% during the first quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker’s stock worth $571,208,000 after acquiring an additional 8,361 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDNS has been the topic of several analyst reports. BNP Paribas initiated 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. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. Wells Fargo & Company raised their target price on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Robert W. Baird raised their target price on Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Finally, Stifel Nicolaus raised their target price on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $368.53.

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of the firm’s 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 transaction, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of the firm’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 transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock worth $3,729,852 over the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $327.00 on Monday. The company has a market capitalization of $89.10 billion, a P/E ratio of 88.38, a P/E/G ratio of 4.29 and a beta of 0.99. The business’s 50 day moving average is $351.68 and its two-hundred day moving average is $317.30. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

About Cadence Design Systems

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.