Cadence Design Systems, Inc. $CDNS Shares Purchased by TD Private Client Wealth LLC

TD Private Client Wealth LLC grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,264 shares of the software maker’s stock after buying an additional 1,624 shares during the quarter. TD Private Client Wealth LLC’s holdings in Cadence Design Systems were worth $4,308,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in CDNS. Barrett & Company Inc. purchased a new position in Cadence Design Systems in the second quarter worth $31,000. Robbins Farley acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth $35,000. Strategic Wealth Investment Group LLC purchased a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $32,000. Promus Capital LLC purchased a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CDNS. Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Monday, December 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. BNP Paribas started coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Citigroup initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price objective for the company. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Cadence Design Systems Stock Down 0.8%

Shares of NASDAQ:CDNS opened at $323.06 on Wednesday. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a market cap of $87.94 billion, a price-to-earnings ratio of 83.26, a PEG ratio of 3.63 and a beta of 1.02. The stock’s 50-day moving average price is $318.09 and its two-hundred day moving average price is $333.58. 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 quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $1.64 EPS. The company’s revenue was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. On average, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other news, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares of the company’s stock, valued at $6,897,557.03. The trade was a 21.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the sale, the director owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,025 shares of company stock worth $20,369,946 over the last 90 days. Company insiders own 0.37% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.