Western Wealth Management LLC Invests $213,000 in Cadence Design Systems, Inc. $CDNS

Western Wealth Management LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 692 shares of the software maker’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC acquired a new stake in Cadence Design Systems in the first quarter valued at $25,000. Saudi Central Bank purchased a new position in shares of Cadence Design Systems in the 1st quarter valued at about $27,000. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after purchasing an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new stake in Cadence Design Systems during the second quarter worth about $40,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the completion of the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $306.76 on Thursday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The business has a fifty day moving average of $338.62 and a 200-day moving average of $329.73. The stock has a market cap of $83.50 billion, a price-to-earnings ratio of 79.06, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $1.64 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. 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, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of research analyst reports. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Mizuho lifted their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Piper Sandler reiterated a “neutral” rating and set a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $376.00.

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.