Sigma Planning Corp Has $647,000 Stake in Cadence Design Systems, Inc. $CDNS

Sigma Planning Corp reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.4% in the second quarter, HoldingsChannel.com reports. The firm owned 2,100 shares of the software maker’s stock after selling 217 shares during the period. Sigma Planning Corp’s holdings in Cadence Design Systems were worth $647,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mission Wealth Management LP grew its holdings in Cadence Design Systems by 8.0% during the second quarter. Mission Wealth Management LP now owns 6,163 shares of the software maker’s stock worth $1,899,000 after buying an additional 456 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in Cadence Design Systems by 2.1% during the 2nd quarter. Gilbert & Cook Inc. now owns 3,288 shares of the software maker’s stock valued at $1,013,000 after acquiring an additional 68 shares in the last quarter. Versor Investments LP purchased a new position in Cadence Design Systems during the 2nd quarter worth $370,000. Kesler Norman & Wride LLC grew its stake in shares of Cadence Design Systems by 3.4% in the 2nd quarter. Kesler Norman & Wride LLC now owns 2,775 shares of the software maker’s stock worth $855,000 after acquiring an additional 90 shares in the last quarter. Finally, Hills Bank & Trust Co grew its stake in shares of Cadence Design Systems by 109.9% in the 2nd quarter. Hills Bank & Trust Co now owns 2,347 shares of the software maker’s stock worth $723,000 after acquiring an additional 1,229 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other news, 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 value of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% 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 the SEC website. Also, Director Ita M. Brennan sold 180 shares of the 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 sale, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,230 shares of company stock valued at $5,530,682 over the last three months. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wolfe Research reissued an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Piper Sandler reissued a “neutral” rating and set a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Oppenheimer upped their target price on Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 28th. Finally, Stifel Nicolaus increased 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. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Price Performance

CDNS opened at $325.05 on Friday. The company has a market capitalization of $88.48 billion, a price-to-earnings ratio of 83.78, a PEG ratio of 4.55 and a beta of 1.00. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $344.35 and a 200-day moving average price of $327.95. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

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

About Cadence Design Systems

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.