Caliber Wealth Management LLC KS Purchases 2,559 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Caliber Wealth Management LLC KS increased its stake in Cadence Design Systems by 105.5%, acquiring an additional 2,559 shares, bringing its total ownership to 4,985 shares worth approximately $1,536,000.
• Cadence Design Systems reported a 20.2% increase in quarterly revenue compared to the previous year, with earnings per share of $1.65, exceeding analysts' expectations.
• Institutional investors own approximately 84.85% of Cadence Design Systems' stock, indicating strong institutional interest in the company.

Caliber Wealth Management LLC KS grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 105.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,985 shares of the software maker's stock after buying an additional 2,559 shares during the period. Caliber Wealth Management LLC KS's holdings in Cadence Design Systems were worth $1,536,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brookstone Capital Management increased its holdings in shares of Cadence Design Systems by 32.3% in the second quarter. Brookstone Capital Management now owns 23,057 shares of the software maker's stock worth $7,105,000 after acquiring an additional 5,627 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Cadence Design Systems by 3.5% during the 2nd quarter. D.A. Davidson & CO. now owns 3,258 shares of the software maker's stock valued at $1,004,000 after purchasing an additional 111 shares in the last quarter. Whittier Trust Co. grew its position in shares of Cadence Design Systems by 3.5% in the 2nd quarter. Whittier Trust Co. now owns 7,042 shares of the software maker's stock valued at $2,170,000 after purchasing an additional 235 shares during the period. Klingman & Associates LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at approximately $203,000. Finally, Phoenix Financial Ltd. increased its stake in Cadence Design Systems by 138.0% during the 2nd quarter. Phoenix Financial Ltd. now owns 6,638 shares of the software maker's stock worth $2,035,000 after purchasing an additional 3,849 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Stock Up 1.2%

NASDAQ CDNS opened at $333.45 on Wednesday. The company has a market cap of $90.86 billion, a price-to-earnings ratio of 90.12, a PEG ratio of 4.32 and a beta of 0.99. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year 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. The company has a 50 day moving average of $347.69 and a 200-day moving average of $320.51.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS. 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, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the sale, the vice president owned 99,672 shares of the company's stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock valued at $3,729,852 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDNS. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an "outperform" rating and a $400.00 target price for the company. Stifel Nicolaus boosted their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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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