Elyxium Wealth LLC Takes Position in Cadence Design Systems, Inc. $CDNS

Elyxium Wealth LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 718 shares of the software maker’s stock, valued at approximately $221,000.

A number of other hedge funds also recently made changes to their positions in CDNS. Nuveen LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at approximately $289,744,000. Jennison Associates LLC boosted its position in Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after buying an additional 1,054,702 shares during the period. Assenagon Asset Management S.A. boosted its position in 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 buying an additional 647,931 shares during the period. Vanguard Group Inc. boosted its position in 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 worth $6,698,834,000 after buying an additional 429,955 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cadence Design Systems by 7.1% during 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 worth $1,202,733,000 after buying an additional 312,757 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on CDNS shares. Mizuho lifted their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. 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. Loop Capital lifted their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Stock Down 0.7%

Shares of NASDAQ CDNS opened at $333.22 on Wednesday. The company has a market capitalization of $90.70 billion, a P/E ratio of 85.88, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The company’s 50 day moving average price is $345.84 and its 200-day moving average price is $327.46.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $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 forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,680 shares of company stock worth $3,371,132 in the last quarter. 1.99% of the stock is owned by corporate insiders.

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.