Stratos Wealth Partners LTD. trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 2.2% in the second quarter, Holdings Channel.com reports. The fund owned 12,730 shares of the software maker’s stock after selling 286 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cadence Design Systems were worth $3,923,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CDNS. Petros Family Wealth LLC grew its stake in shares of 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 boosted its position in Cadence Design Systems by 14.0% during the second quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after purchasing an additional 32 shares during the period. Legacy Capital Wealth Partners LLC lifted its position in shares of Cadence Design Systems by 2.8% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after acquiring an additional 33 shares in the last quarter. Empower Advisory Group LLC grew its position in shares of Cadence Design Systems by 4.1% in the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after purchasing an additional 36 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Cadence Design Systems by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after purchasing an additional 36 shares in the last quarter. 84.85% of the stock is owned by institutional investors.
Analyst Ratings Changes
CDNS has been the topic of a number of analyst reports. KeyCorp upped their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. BNP Paribas began coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $368.53.
Cadence Design Systems Stock Performance
Shares of CDNS opened at $326.12 on Friday. The business has a 50-day simple moving average of $348.49 and a two-hundred day simple moving average of $319.25. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market cap of $88.86 billion, a price-to-earnings ratio of 88.14, a PEG ratio of 4.28 and a beta of 0.99.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last released 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. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.
Insider Buying and Selling
In related news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated 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 owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock worth $3,729,852 over the last three months. 1.99% of the stock is owned by insiders.
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.
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