Legacy Financial Advisors Inc. Has $330,000 Position in Cadence Design Systems, Inc. $CDNS

Legacy Financial Advisors Inc. cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,297 shares of the software maker’s stock after selling 81 shares during the period. Legacy Financial Advisors Inc.’s holdings in Cadence Design Systems were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CDNS. Park Square Financial Group LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter worth $348,000. Merit Financial Group LLC boosted its holdings in shares of Cadence Design Systems by 42.6% during the 1st quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker’s stock valued at $805,000 after acquiring an additional 946 shares in the last quarter. Novem Group boosted its holdings in shares of Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker’s stock valued at $1,034,000 after acquiring an additional 945 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in Cadence Design Systems during the 1st quarter worth $64,800,000. Finally, Integrated Advisors Network LLC increased its holdings in Cadence Design Systems by 156.9% in the 4th quarter. Integrated Advisors Network LLC now owns 3,406 shares of the software maker’s stock worth $1,023,000 after purchasing an additional 2,080 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of the transaction, the director directly owned 8,010 shares of the company’s stock, valued at approximately $2,435,040. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $358.72, for a total value of $358,720.00. Following the sale, the vice president owned 104,499 shares in the company, valued at approximately $37,485,881.28. The trade was a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,830 shares of company stock valued at $1,207,671. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 0.4%

Cadence Design Systems stock opened at $345.45 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The firm has a 50 day moving average price of $327.57 and a two-hundred day moving average price of $295.14. The firm has a market cap of $94.13 billion, a price-to-earnings ratio of 93.37, a PEG ratio of 4.55 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted $1.28 EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Piper Sandler reiterated a “neutral” rating and set a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Bank of America boosted their target price on shares of Cadence Design Systems from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Robert W. Baird lifted their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target 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.