Mission Wealth Management LP Purchases 456 Shares of Cadence Design Systems, Inc. $CDNS

Mission Wealth Management LP grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,163 shares of the software maker’s stock after acquiring an additional 456 shares during the quarter. Mission Wealth Management LP’s holdings in Cadence Design Systems were worth $1,899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after purchasing an additional 676 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Cadence Design Systems by 13.5% in the 1st quarter. DAVENPORT & Co LLC now owns 5,290 shares of the software maker’s stock valued at $1,345,000 after acquiring an additional 631 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Cadence Design Systems by 17.9% in the 1st quarter. Private Trust Co. NA now owns 967 shares of the software maker’s stock valued at $246,000 after acquiring an additional 147 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of Cadence Design Systems by 6.3% in the 1st quarter. Mutual Advisors LLC now owns 1,148 shares of the software maker’s stock valued at $292,000 after acquiring an additional 68 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Cadence Design Systems by 8.0% in the 1st quarter. D.A. Davidson & CO. now owns 3,147 shares of the software maker’s stock valued at $800,000 after acquiring an additional 232 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,680 shares of company stock valued at $3,371,132 in the last ninety days. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $338.69 on Monday. The company has a 50 day moving average price of $346.26 and a 200-day moving average price of $326.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a market capitalization of $92.19 billion, a PE ratio of 87.29, a P/E/G ratio of 4.55 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CDNS shares. Piper Sandler reaffirmed a “neutral” rating and issued a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Wolfe Research restated an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Stifel Nicolaus raised their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Loop Capital raised their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $376.00.

Cadence Design Systems Company 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.