Redhawk Wealth Advisors Inc. Raises Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Redhawk Wealth Advisors Inc. increased its holdings in Cadence Design Systems by 10.7% during the 2nd quarter, owning 12,890 shares valued at approximately $3.97 million as of its latest SEC filing.
• Cadence Design Systems reported a 20.2% increase in revenue to $1.28 billion for the last quarter, with earnings per share of $1.65, exceeding analysts' expectations.
• Analysts have given Cadence Design Systems a consensus rating of “Moderate Buy”, with target prices ranging from $300 to $390, reflecting strong confidence in the company's growth potential.

Redhawk Wealth Advisors Inc. increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 10.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,890 shares of the software maker's stock after acquiring an additional 1,247 shares during the period. Redhawk Wealth Advisors Inc.'s holdings in Cadence Design Systems were worth $3,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in Cadence Design Systems in the fourth quarter valued at about $348,000. Merit Financial Group LLC increased its position in shares of Cadence Design Systems by 42.6% in the 1st quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock valued at $805,000 after purchasing an additional 946 shares during the last quarter. Novem Group boosted its holdings in shares of Cadence Design Systems by 30.3% in the 1st quarter. Novem Group now owns 4,067 shares of the software maker's stock valued at $1,034,000 after buying an additional 945 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in shares of Cadence Design Systems in the 1st quarter valued at $64,800,000. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Cadence Design Systems by 156.9% in the fourth quarter. Integrated Advisors Network LLC now owns 3,406 shares of the software maker's stock valued at $1,023,000 after acquiring an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded up $8.47 on Friday, hitting $373.35. The company had a trading volume of 5,003,397 shares, compared to its average volume of 1,607,091. The firm has a 50 day moving average of $346.27 and a two-hundred day moving average of $306.53. The stock has a market capitalization of $101.73 billion, a price-to-earnings ratio of 100.91, a PEG ratio of 4.90 and a beta of 1.00. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. 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 (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned $1.28 earnings per share. The firm's revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,180 shares of company stock valued at $1,069,232 in the last three months. Insiders own 1.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on CDNS shares. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird lifted their price target on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a research note on Friday, July 25th. Finally, Piper Sandler reissued a "neutral" rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Cadence Design Systems 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.