Cadence Design Systems, Inc. $CDNS Shares Bought by Avidian Wealth Enterprises LLC

Key Points

• Avidian Wealth Enterprises increased its Cadence Design Systems stake by 1,852.3% in the third quarter, bringing its holdings to 21,241 shares valued at approximately $7.0 million. Institutional investors collectively own 84.85% of CDNS.
• Cadence shares fell 1.6% to $350.47, while the company reported quarterly EPS of $2.11, exceeding estimates, and revenue growth of 24.2% year over year.
• Wall Street maintains a positive outlook, with a consensus “Moderate Buy” rating and a $405.06 target price. However, insiders sold 6,960 shares worth approximately $2.2 million during the past quarter.

Avidian Wealth Enterprises LLC raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 1,852.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,241 shares of the software maker's stock after purchasing an additional 20,153 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Cadence Design Systems were worth $7,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in Cadence Design Systems by 196.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 308 shares of the software maker's stock worth $102,000 after buying an additional 204 shares in the last quarter. American National Bank & Trust lifted its stake in Cadence Design Systems by 7,625.4% in the third quarter. American National Bank & Trust now owns 9,116 shares of the software maker's stock valued at $3,010,000 after buying an additional 8,998 shares in the last quarter. Congress Asset Management Co. boosted its stake in Cadence Design Systems by 6.5% in the 3rd quarter. Congress Asset Management Co. now owns 37,204 shares of the software maker's stock worth $12,284,000 after purchasing an additional 2,284 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Cadence Design Systems by 21.5% during the third quarter. Moody National Bank Trust Division now owns 4,479 shares of the software maker's stock worth $1,479,000 after buying an additional 793 shares in the last quarter. Finally, Park National Corp OH raised its holdings in shares of Cadence Design Systems by 186.9% in the third quarter. Park National Corp OH now owns 372,703 shares of the software maker's stock valued at $123,063,000 after purchasing an additional 242,816 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Trading Down 1.6%

CDNS stock traded down $5.65 during trading on Thursday, hitting $350.47. The company had a trading volume of 438,691 shares, compared to its average volume of 2,450,937. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The business has a 50-day moving average of $318.98 and a 200-day moving average of $336.55. The stock has a market cap of $96.52 billion, a PE ratio of 69.61, a PEG ratio of 3.86 and a beta of 1.13. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Bank of America lifted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Oppenheimer reissued a "market perform" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Morgan Stanley restated an "overweight" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $405.06.

Insider Activity at Cadence Design Systems

In related news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $350.07, for a total transaction of $437,587.50. Following the transaction, the director directly owned 39,544 shares of the company's stock, valued at $13,843,168.08. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total value of $554,240.00. Following the completion of the sale, the vice president owned 121,793 shares of the company's stock, valued at approximately $33,751,276.16. This represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,960 shares of company stock worth $2,185,879 over the last quarter. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

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