Wambolt & Associates LLC Has $3.34 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Wambolt & Associates LLC decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,790 shares of the software maker’s stock after selling 779 shares during the quarter. Cadence Design Systems makes up about 1.1% of Wambolt & Associates LLC’s holdings, making the stock its 27th biggest position. Wambolt & Associates LLC’s holdings in Cadence Design Systems were worth $3,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new position in Cadence Design Systems during the first quarter worth $289,744,000. Assenagon Asset Management S.A. boosted its stake in shares of Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after acquiring an additional 647,931 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after acquiring an additional 429,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cadence Design Systems by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock valued at $1,202,733,000 after acquiring an additional 312,757 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Cadence Design Systems by 686.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock worth $108,103,000 after purchasing an additional 306,198 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Finally, Loop Capital raised their price target on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $376.47.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $303.66 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. The company has a market cap of $82.66 billion, a PE ratio of 78.26, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The firm has a fifty day moving average price of $334.86 and a two-hundred day moving average price of $329.75. 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 released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business 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. Analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,230 shares of company stock valued at $5,530,682 in the last ninety days. Insiders own 1.99% of the company’s stock.

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.