Falcon Wealth Planning Invests $263,000 in Cadence Design Systems, Inc. $CDNS

Key Points

• Falcon Wealth Planning made a new investment in Cadence Design Systems, acquiring 855 shares worth approximately $263,000 in the second quarter.
• In the same period, several other institutional investors, including Smallwood Wealth and Costello Asset Management, also purchased stakes valued around $25,000.
• Analysts have raised their price targets for Cadence Design Systems, with Wells Fargo increasing theirs from $365.00 to $405.00 and multiple reports resulting in a consensus average price target of $364.33.

Falcon Wealth Planning bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 855 shares of the software maker's stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Smallwood Wealth Investment Management LLC acquired a new stake in Cadence Design Systems in the 1st quarter valued at about $25,000. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. Valley National Advisers Inc. lifted 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 buying an additional 99 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Cadence Design Systems by 36.5% during the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after buying an additional 46 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

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 stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the transaction, the vice president owned 102,499 shares in the company, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares of the company's stock, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,180 shares of company stock worth $1,069,232. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on CDNS shares. Wells Fargo & Company lifted their price target on Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 target price on the stock. Loop Capital increased their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Needham & Company LLC raised their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Mizuho upped their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $364.33.

Cadence Design Systems Trading Down 1.7%

CDNS opened at $351.06 on Friday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $349.81 and a 200-day simple moving average of $309.43. The firm has a market cap of $95.66 billion, a P/E ratio of 94.88, a P/E/G ratio of 4.68 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company earned $1.28 EPS. Cadence Design Systems's 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. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems Profile

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.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.