Modern Wealth Management LLC Buys Shares of 865 Cadence Design Systems, Inc. $CDNS

Key Points

• Modern Wealth Management LLC acquired 865 shares of Cadence Design Systems, valued at approximately $220,000, in the first quarter of the year.
• Several institutional investors have boosted their holdings in Cadence Design Systems, notably GAMMA Investing LLC, which increased its stake by 31,049.1%, now owning over 1.2 million shares.
• Analysts have set new price targets for Cadence Design Systems, with several firms projecting prices as high as $400.00, contributing to an average price target of $364.33 based on multiple evaluations.

Modern Wealth Management LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 865 shares of the software maker's stock, valued at approximately $220,000.

A number of other institutional investors have also recently modified their holdings of CDNS. GAMMA Investing LLC boosted its stake in shares of Cadence Design Systems by 31,049.1% in the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock valued at $309,835,000 after buying an additional 1,214,330 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $289,744,000. Jennison Associates LLC boosted its stake in shares of Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after buying an additional 429,955 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cadence Design Systems by 10.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock valued at $1,326,912,000 after buying an additional 427,418 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CDNS. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research note on Wednesday, July 30th. Piper Sandler restated a "neutral" rating and issued a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Stifel Nicolaus lifted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Mizuho lifted their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, Needham & Company LLC lifted their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $364.33.

Insiders Place Their Bets

In other news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares of the company's stock, 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 legal filing with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were 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 of the company's stock, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,180 shares of company stock valued at $1,069,232. Insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $351.52 on Tuesday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market cap of $95.79 billion, a price-to-earnings ratio of 95.01, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The business has a fifty day moving average of $343.37 and a 200-day moving average of $303.73. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The business's revenue for the quarter 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. As a group, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal 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.

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