Cornerstone Wealth Group LLC Acquires New Holdings in Cadence Design Systems, Inc. $CDNS

Cornerstone Wealth Group LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 745 shares of the software maker’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Smallwood Wealth Investment Management LLC bought a new stake in shares of Cadence Design Systems in the first quarter worth $25,000. Costello Asset Management INC bought a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $27,000. Valley National Advisers Inc. lifted its stake in shares of Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after purchasing an additional 99 shares during the period. Finally, Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the second quarter worth approximately $31,000. 84.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This represents a 0.99% 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 in the last 90 days. 1.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Loop Capital upped their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a research report on Thursday, July 10th. They set a “buy” rating and a $380.00 target price on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Friday, July 25th. Finally, Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Cadence Design Systems Stock Down 0.5%

Shares of CDNS opened at $324.10 on Thursday. The business’s 50 day moving average is $349.61 and its 200 day moving average is $317.93. 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. The company has a market capitalization of $88.31 billion, a PE ratio of 87.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates 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 firm 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. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share 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.