Pure Financial Advisors LLC Acquires Shares of 813 Cadence Design Systems, Inc. $CDNS

Key Points

• Pure Financial Advisors LLC has acquired 813 shares of Cadence Design Systems, valued at approximately $250,000, during the second quarter.
• Cadence Design Systems reported Q2 earnings of $1.65 EPS, exceeding estimates, with revenue of $1.28 billion, marking a 20.2% increase year-over-year.
• Institutional investors and hedge funds own 84.85% of Cadence Design Systems, highlighting strong interest in the company among investment firms.

Pure Financial Advisors LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 813 shares of the software maker's stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also modified their holdings of CDNS. Nuveen LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth approximately $289,744,000. Jennison Associates LLC grew its holdings in shares of Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after acquiring an additional 1,054,702 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Cadence Design Systems by 466.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker's stock worth $242,468,000 after acquiring an additional 647,931 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after acquiring an additional 429,955 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cadence Design Systems by 7.1% in 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 worth $1,202,733,000 after acquiring an additional 312,757 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Trading Up 0.0%

CDNS stock opened at $347.27 on Friday. The company has a market cap of $94.63 billion, a price-to-earnings ratio of 93.86, a PEG ratio of 4.55 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. The business has a fifty day simple moving average of $353.04 and a 200-day simple moving average of $314.12. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

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. 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned $1.28 EPS. The firm's quarterly revenue 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. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Loop Capital upped their price target on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Mizuho upped their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Finally, BNP Paribas assumed coverage on Cadence Design Systems in a research note on Thursday. They issued an "outperform" rating and a $400.00 target price on the stock. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average target price of $368.53.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was 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 directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value 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. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,680 shares of company stock worth $3,729,852. Corporate insiders own 1.99% of the company's stock.

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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