Ameriprise Financial Inc. Purchases 20,107 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Ameriprise Financial Inc. increased its stake in Cadence Design Systems by 2.6%, acquiring an additional 20,107 shares, bringing its total ownership to approximately 0.29% of the company, valued at about $199.97 million.
• Cadence Design Systems reported better-than-expected quarterly earnings, with an EPS of $1.65, surpassing analysts' expectations of $1.56, and a revenue of $1.28 billion against a consensus of $1.25 billion.
• Analysts have a consensus rating of “Moderate Buy” for Cadence Design Systems, with a price target averaging around $364.33, following multiple upgrades from notable firms.

Ameriprise Financial Inc. boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,330 shares of the software maker's stock after buying an additional 20,107 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.29% of Cadence Design Systems worth $199,971,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Smallwood Wealth Investment Management LLC acquired a new position in Cadence Design Systems in the first quarter worth $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems in the first quarter worth $25,000. Valley National Advisers Inc. boosted its stake in Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares in the last quarter. Ancora Advisors LLC boosted its stake in Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after purchasing an additional 112 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Cadence Design Systems by 36.5% in the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Trading Up 0.6%

NASDAQ CDNS opened at $349.63 on Friday. The stock has a 50-day simple moving average of $329.35 and a 200 day simple moving average of $295.78. The company has a market capitalization of $95.27 billion, a PE ratio of 94.49, a P/E/G ratio of 4.59 and a beta of 0.97. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. 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 - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm's revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the sale, the director directly owned 8,010 shares of the company's stock, valued at approximately $2,435,040. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the completion of the transaction, the vice president directly owned 104,499 shares in the company, valued at approximately $37,485,881.28. The trade was a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,830 shares of company stock valued at $1,207,671 over the last 90 days. Corporate insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CDNS shares. KeyCorp upped their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Stifel Nicolaus upped their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upped their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Loop Capital upped their price target on Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

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.

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