HBW Advisory Services LLC Sells 114 Shares of Cadence Design Systems, Inc. $CDNS

HBW Advisory Services LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,050 shares of the software maker’s stock after selling 114 shares during the period. HBW Advisory Services LLC’s holdings in Cadence Design Systems were worth $632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC increased its stake in Cadence Design Systems by 2.8% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock valued at $309,000 after acquiring an additional 33 shares during the period. Empower Advisory Group LLC increased its stake in 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 acquiring an additional 36 shares during the period. Gamco Investors INC. ET AL increased its stake in 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 during the period. Principal Street Partners LLC increased its stake in Cadence Design Systems by 2.6% during the fourth quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker’s stock valued at $437,000 after acquiring an additional 37 shares during the period. Finally, Greenleaf Trust increased its stake in Cadence Design Systems by 0.7% during the first quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock valued at $1,476,000 after acquiring an additional 39 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Down 3.2%

Shares of CDNS opened at $343.48 on Friday. The company has a market capitalization of $93.59 billion, a P/E ratio of 92.83, a PEG ratio of 4.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The business’s 50 day simple moving average is $342.75 and its 200-day simple moving average is $302.64.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping 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%.Cadence Design Systems’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, 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 transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,180 shares of company stock worth $1,069,232 over the last three months. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDNS. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus lifted their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a report on Wednesday, July 30th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.33.

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.