Ashton Thomas Private Wealth LLC Has $2.87 Million Position in Cadence Design Systems, Inc. $CDNS

Ashton Thomas Private Wealth LLC lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,319 shares of the software maker’s stock after buying an additional 466 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Cadence Design Systems were worth $2,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Cadence Design Systems during the first quarter worth about $25,000. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems during the first quarter worth about $25,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter valued at approximately $31,000. Saudi Central Bank acquired a new position in Cadence Design Systems during the first quarter valued at approximately $27,000. Finally, Valley National Advisers Inc. boosted its position in Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. 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. Mizuho increased their price target on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Wells Fargo & Company increased their price target on Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Piper Sandler reissued a “neutral” rating and set a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Finally, Robert W. Baird increased their price target on Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Thirteen equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $369.71.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $351.40 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $346.90 and its two-hundred day moving average price is $323.72. The firm has a market capitalization of $95.75 billion, a price-to-earnings ratio of 94.97, a P/E/G ratio of 4.52 and a beta of 0.99. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company 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. On average, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,680 shares of company stock worth $3,729,852. Company insiders own 0.37% of the company’s stock.

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.