Prospera Financial Services Inc Boosts Stock Holdings in Cadence Design Systems, Inc. $CDNS

Prospera Financial Services Inc raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 85.6% during the second quarter, HoldingsChannel reports. The fund owned 1,791 shares of the software maker’s stock after purchasing an additional 826 shares during the quarter. Prospera Financial Services Inc’s holdings in Cadence Design Systems were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 429,955 shares in the last quarter. Jennison Associates LLC increased its position in shares of Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after acquiring an additional 273,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cadence Design Systems by 7.1% during the first 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. Invesco Ltd. lifted its holdings in Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after buying an additional 296,983 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Cadence Design Systems by 3.4% during the second quarter. Swedbank AB now owns 1,979,920 shares of the software maker’s stock valued at $610,112,000 after purchasing an additional 64,514 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was 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 in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total value of $1,819,290.00. Following the completion of the transaction, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. This represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,230 shares of company stock worth $5,530,682. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the topic of several research reports. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Loop Capital lifted their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. 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 report on Tuesday, October 28th. Wolfe Research restated an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $314.93 on Friday. 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 stock has a market cap of $85.72 billion, a price-to-earnings ratio of 81.17, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The firm has a 50-day moving average of $341.41 and a two-hundred day moving average of $329.43. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm 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, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.