Paragon Advisors LLC Has $2.76 Million Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Paragon Advisors LLC increased its stake in Cadence Design Systems, now holding $2.76 million worth of shares after a 16.7% boost in the second quarter.
• Several large investors have also increased their holdings in Cadence, with Vanguard Group raising its stake to 26.3 million shares valued at approximately $6.7 billion.
• Cadence's recent quarterly earnings exceeded expectations, reporting $1.65 EPS and revenue of $1.28 billion, marking a 20.2% increase year-over-year.

Paragon Advisors LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 16.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,969 shares of the software maker's stock after purchasing an additional 1,285 shares during the quarter. Paragon Advisors LLC's holdings in Cadence Design Systems were worth $2,764,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CDNS. Vanguard Group Inc. raised 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 purchasing an additional 429,955 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock valued at $1,202,733,000 after purchasing an additional 312,757 shares in the last quarter. Invesco Ltd. increased its stake in shares of Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after buying an additional 296,983 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Cadence Design Systems by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker's stock valued at $571,208,000 after acquiring an additional 8,361 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDNS shares. Stifel Nicolaus lifted their target price 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. The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective for the company. KeyCorp boosted their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average target price of $369.71.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems 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 sale, the chief financial officer owned 70,715 shares of the company's stock, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,680 shares of company stock valued at $3,729,852. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

CDNS opened at $330.51 on Thursday. The business has a 50 day moving average of $347.32 and a 200-day moving average of $320.58. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The stock has a market cap of $90.06 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 4.37 and a beta of 0.99. 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 announced its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $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 year.

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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