Kestra Advisory Services LLC Sells 1,585 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Kestra Advisory Services LLC reduced its holdings in Cadence Design Systems by 16.4%, owning 8,073 shares worth approximately $2.05 million after selling 1,585 shares in the first quarter.
• Cadence Design Systems reported a quarterly earnings per share of $1.65, exceeding analysts' expectations of $1.56, and recorded revenues of $1.28 billion, up 20.2% year-over-year.
• Several analysts have upgraded their target prices for Cadence Design Systems, with Wells Fargo raising it from $365 to $405, reflecting a consensus rating of "Moderate Buy" across major firms.

Kestra Advisory Services LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,073 shares of the software maker's stock after selling 1,585 shares during the quarter. Kestra Advisory Services LLC's holdings in Cadence Design Systems were worth $2,053,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new stake in Cadence Design Systems in the first quarter worth approximately $25,000. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems during the 1st quarter valued at $25,000. Valley National Advisers Inc. boosted its stake 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 in the last quarter. Ancora Advisors LLC grew its holdings in Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after purchasing an additional 112 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Cadence Design Systems by 36.5% in the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock valued at $44,000 after purchasing an additional 46 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CDNS shares. Needham & Company LLC increased their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Rosenblatt Securities reiterated a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Mizuho boosted 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. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the company's 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 transaction, the vice president owned 104,499 shares of the company's stock, valued at $37,485,881.28. This represents a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the transaction, the director owned 8,010 shares of the company's stock, valued at $2,435,040. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,180 shares of company stock valued at $1,021,790. 0.37% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded down $3.86 during midday trading on Monday, reaching $350.43. The company's stock had a trading volume of 1,303,717 shares, compared to its average volume of 1,395,147. The stock has a market capitalization of $95.49 billion, a P/E ratio of 94.71, a PEG ratio of 4.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The firm has a 50 day moving average price of $335.53 and a 200-day moving average price of $297.80. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. The business had revenue of $1.28 billion for 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 business's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems Company 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.