Guggenheim Capital LLC Has $14.98 Million Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Guggenheim Capital LLC reduced its stake in Cadence Design Systems by 19.9%, now holding 58,903 shares worth approximately $14.98 million after selling 14,621 shares during the first quarter.
• Cadence Design Systems reported a $1.65 EPS for the last quarter, exceeding analyst expectations, with a revenue of $1.28 billion, marking a year-over-year increase of 20.2%.
• Analyst ratings for Cadence Design Systems show a consensus of "Moderate Buy" with an average target price of $364.33, and significant price upgrades from multiple research firms.

Guggenheim Capital LLC lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 19.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 58,903 shares of the software maker's stock after selling 14,621 shares during the period. Guggenheim Capital LLC's holdings in Cadence Design Systems were worth $14,981,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in shares of Cadence Design Systems during the fourth quarter valued at about $348,000. Merit Financial Group LLC raised its position in shares of Cadence Design Systems by 42.6% during the first quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock valued at $805,000 after buying an additional 946 shares during the last quarter. Novem Group raised its position in shares of Cadence Design Systems by 30.3% during the first 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 during the last quarter. Seilern Investment Management Ltd acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $64,800,000. Finally, Integrated Advisors Network LLC raised its position in shares of Cadence Design Systems by 156.9% during the fourth quarter. Integrated Advisors Network LLC now owns 3,406 shares of the software maker's stock valued at $1,023,000 after buying an additional 2,080 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Shares of CDNS stock traded down $3.86 during trading hours on Friday, reaching $350.43. 1,303,717 shares of the company were exchanged, compared to its average volume of 1,433,451. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock's fifty day moving average is $334.39 and its two-hundred day moving average is $297.41. The company has a market cap of $95.49 billion, a price-to-earnings ratio of 94.71, a P/E/G ratio of 4.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results 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 net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned $1.28 earnings per share. Cadence Design Systems's quarterly revenue was up 20.2% on a year-over-year basis. 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 forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CDNS. Needham & Company LLC upped their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Twelve investment 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Activity at Cadence Design Systems

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

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.