Empirical Financial Services LLC d.b.a. Empirical Wealth Management Reduces Holdings in Cadence Design Systems, Inc. $CDNS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 36.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 684 shares of the software maker’s stock after selling 384 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cadence Design Systems were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Legacy Capital Wealth Partners LLC boosted its holdings in Cadence Design Systems by 2.8% during the 1st 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 boosted its holdings in Cadence Design Systems by 4.1% during the 1st 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 holdings in Cadence Design Systems by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock valued at $3,392,000 after purchasing an additional 36 shares during the period. Greenleaf Trust increased its holdings in Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock valued at $1,476,000 after purchasing an additional 39 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Cadence Design Systems by 3.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker’s stock valued at $285,000 after purchasing an additional 40 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Mizuho boosted their price target on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. KeyCorp boosted their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Piper Sandler restated a “neutral” rating and set a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $368.53.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’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 completion of the transaction, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock worth $3,729,852 over the last ninety days. Insiders own 0.37% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $345.48 on Wednesday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $353.01 and its two-hundred day moving average price is $315.36. The stock has a market cap of $94.14 billion, a PE ratio of 93.37, a P/E/G ratio of 4.63 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations 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 period in the previous 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. As a group, 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.