Turtle Creek Wealth Advisors LLC Acquires New Shares in Cadence Design Systems, Inc. $CDNS

Turtle Creek Wealth Advisors LLC bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 884 shares of the software maker’s stock, valued at approximately $272,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bridges Investment Management Inc. raised its position in shares of Cadence Design Systems by 32.6% in the 2nd quarter. Bridges Investment Management Inc. now owns 174,072 shares of the software maker’s stock valued at $53,640,000 after acquiring an additional 42,812 shares during the period. Dock Street Asset Management Inc. raised its holdings in Cadence Design Systems by 4.3% in the second quarter. Dock Street Asset Management Inc. now owns 82,440 shares of the software maker’s stock worth $25,404,000 after purchasing an additional 3,369 shares during the period. Mutual Advisors LLC boosted its position in shares of Cadence Design Systems by 6.5% during the second quarter. Mutual Advisors LLC now owns 1,223 shares of the software maker’s stock worth $406,000 after purchasing an additional 75 shares in the last quarter. Generali Asset Management SPA SGR grew its holdings in shares of Cadence Design Systems by 27.7% in the 2nd quarter. Generali Asset Management SPA SGR now owns 27,296 shares of the software maker’s stock valued at $8,411,000 after buying an additional 5,924 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Cadence Design Systems by 17.3% in the 2nd quarter. Ritholtz Wealth Management now owns 3,254 shares of the software maker’s stock valued at $1,003,000 after buying an additional 481 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. KeyCorp lifted their target price on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 in the company, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock worth $3,729,852 in the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 0.0%

NASDAQ:CDNS opened at $324.25 on Friday. The company has a market cap of $88.35 billion, a P/E ratio of 87.64, a price-to-earnings-growth ratio of 4.25 and a beta of 0.99. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The business has a 50 day moving average price of $349.00 and a two-hundred day moving average price of $318.41. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion for 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 firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm 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 EPS for the current fiscal year.

Cadence Design Systems 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.