Cadence Design Systems, Inc. $CDNS Shares Purchased by Lyell Wealth Management LP

Lyell Wealth Management LP boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,339 shares of the software maker's stock after acquiring an additional 2,357 shares during the period. Cadence Design Systems comprises 1.2% of Lyell Wealth Management LP's portfolio, making the stock its 25th largest holding. Lyell Wealth Management LP's holdings in Cadence Design Systems were worth $15,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new position in Cadence Design Systems during the first quarter worth about $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems during the first quarter worth about $25,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter worth about $31,000. Saudi Central Bank acquired a new position in Cadence Design Systems during the first quarter worth about $27,000. Finally, Valley National Advisers Inc. raised its position in Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $326.12 on Monday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The firm has a 50 day moving average price of $348.49 and a 200 day moving average price of $319.74. The company has a market cap of $88.86 billion, a price-to-earnings ratio of 88.14, a PEG ratio of 4.28 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. Cadence Design Systems'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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. The trade was 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 through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the sale, the vice president owned 99,672 shares of the company's stock, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,680 shares of company stock worth $3,729,852. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Cadence Design Systems in a research report on Wednesday, October 8th. KeyCorp boosted their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an "outperform" rating and a $400.00 price objective for the company. Loop Capital boosted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, 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. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $368.53.

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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