Cadence Design Systems, Inc. $CDNS Shares Purchased by Creative Planning

Creative Planning raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 53.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 76,510 shares of the software maker’s stock after acquiring an additional 26,534 shares during the period. Creative Planning’s holdings in Cadence Design Systems were worth $23,577,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Tiemann Investment Advisors LLC increased its stake in Cadence Design Systems by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after purchasing an additional 30 shares during the last quarter. Petros Family Wealth LLC grew its holdings in Cadence Design Systems by 2.6% in the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after buying an additional 32 shares during the period. Hemington Wealth Management increased its stake in shares of Cadence Design Systems by 14.0% during the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after acquiring an additional 32 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in shares of Cadence Design Systems by 4.1% during the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after acquiring an additional 36 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in shares of Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of several research analyst reports. BNP Paribas began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Robert W. Baird upped their price objective on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. 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 research report on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Rosenblatt Securities lifted their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.00.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction 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 directly owned 70,715 shares in the company, valued at $24,690,849.40. This trade represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Down 0.3%

NASDAQ:CDNS opened at $314.93 on Monday. The business’s 50-day moving average is $341.41 and its two-hundred day moving average is $329.85. The firm has a market capitalization of $85.72 billion, a PE ratio of 81.17, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.