NewEdge Advisors LLC Has $6.35 Million Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• NewEdge Advisors LLC increased its stake in Cadence Design Systems by 70.8%, now owning 24,980 shares valued at approximately $6.35 million.
• Cadence Design Systems recently reported earnings of $1.65 per share, surpassing analyst expectations, with a 20.2% increase in revenue year-over-year.
• Institutional investors, including Vanguard and GAMMA Investing, collectively own 84.85% of Cadence Design Systems, indicating strong institutional support.

NewEdge Advisors LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 70.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,980 shares of the software maker's stock after acquiring an additional 10,354 shares during the period. NewEdge Advisors LLC's holdings in Cadence Design Systems were worth $6,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. GAMMA Investing LLC grew its stake in 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 acquiring an additional 1,214,330 shares during the period. Nuveen LLC bought a new position in Cadence Design Systems during the 1st quarter worth about $289,744,000. Jennison Associates LLC increased its holdings in Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after purchasing an additional 1,054,702 shares in the last quarter. Vanguard Group Inc. increased its holdings in Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after purchasing an additional 429,955 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cadence Design Systems by 10.7% during the 4th 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 worth $1,326,912,000 after purchasing an additional 427,418 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of 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 position. The sale 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 firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the sale, the vice president owned 102,499 shares of the company's stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,180 shares of company stock valued at $1,365,740 over the last quarter. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Rosenblatt Securities reiterated a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, August 31st. Loop Capital increased their target price on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Needham & Company LLC increased their target price 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 analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $351.01 on Monday. The stock has a market capitalization of $95.65 billion, a price-to-earnings ratio of 94.87, a PEG ratio of 4.60 and a beta of 1.00. The business has a 50-day moving average of $339.27 and a 200-day moving average of $299.55. 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, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

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 company 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%.Cadence Design Systems's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, sell-side 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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