Sound View Wealth Advisors Group LLC Sells 167 Shares of Cadence Design Systems, Inc. $CDNS

Sound View Wealth Advisors Group LLC trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,265 shares of the software maker’s stock after selling 167 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Cadence Design Systems were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CDNS. Campbell & CO Investment Adviser LLC bought a new position in Cadence Design Systems during the second quarter worth $3,019,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Cadence Design Systems by 3.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 702,146 shares of the software maker’s stock valued at $216,366,000 after purchasing an additional 21,040 shares during the period. Parkside Financial Bank & Trust grew its position in Cadence Design Systems by 7.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 719 shares of the software maker’s stock worth $222,000 after purchasing an additional 49 shares during the last quarter. Freemont Management S.A. increased its holdings in shares of Cadence Design Systems by 330.8% during the 2nd quarter. Freemont Management S.A. now owns 39,200 shares of the software maker’s stock worth $12,079,000 after purchasing an additional 30,100 shares during the period. Finally, Prospera Financial Services Inc increased its holdings in shares of Cadence Design Systems by 85.6% during the 2nd quarter. Prospera Financial Services Inc now owns 1,791 shares of the software maker’s stock worth $552,000 after purchasing an additional 826 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CDNS shares. Oppenheimer increased their target price on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research note on Tuesday, October 28th. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a report on Wednesday, July 30th. Loop Capital raised their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Stifel Nicolaus lifted their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Fourteen investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Stock Up 1.2%

Shares of CDNS opened at $328.94 on Tuesday. The stock has a market cap of $89.54 billion, a price-to-earnings ratio of 84.78, a P/E/G ratio of 4.55 and a beta of 1.00. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a 50-day moving average price of $343.92 and a two-hundred day moving average price of $329.22.

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