Angeles Wealth Management LLC Acquires New Position in Cadence Design Systems, Inc. $CDNS

Angeles Wealth Management LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 674 shares of the software maker’s stock, valued at approximately $208,000.

Several other large investors also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC purchased a new stake in Cadence Design Systems during the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems in the 1st quarter valued at about $25,000. Saudi Central Bank acquired a new position in Cadence Design Systems in the 1st quarter valued at about $27,000. Valley National Advisers Inc. boosted its holdings in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. acquired a new position in Cadence Design Systems in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of several recent analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Rosenblatt Securities reiterated a “neutral” rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. KeyCorp boosted their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Mizuho boosted their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the sale, the vice president directly owned 99,672 shares in the company, valued at $34,712,767.44. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the sale, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. 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 ninety days. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $326.12 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The stock has a market capitalization of $88.86 billion, a P/E ratio of 88.14, a PEG ratio of 4.28 and a beta of 0.99. The company has a 50 day moving average price of $348.49 and a 200 day moving average price of $319.25. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company 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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current 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.