Cadence Design Systems, Inc. $CDNS Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Cadence Design Systems by 2.5%, owning approximately $149.29 million worth of shares by the end of the 1st quarter, totaling 587,009 shares.
• Cadence Design Systems reported $1.65 EPS for the quarter, exceeding estimates, with a revenue of $1.28 billion, marking a 20.2% year-over-year increase.
• Multiple brokerages have adjusted their price targets for Cadence Design Systems, with Wells Fargo raising its target from $365 to $405, reflecting a generally positive outlook among analysts.

Raymond James Financial Inc. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,009 shares of the software maker's stock after acquiring an additional 14,585 shares during the quarter. Raymond James Financial Inc. owned 0.21% of Cadence Design Systems worth $149,294,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after acquiring an additional 676 shares during the last quarter. Highview Capital Management LLC DE lifted its holdings in Cadence Design Systems by 2.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock valued at $1,894,000 after purchasing an additional 163 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Cadence Design Systems by 23.7% in the 4th quarter. NewEdge Advisors LLC now owns 14,626 shares of the software maker's stock valued at $4,395,000 after purchasing an additional 2,802 shares in the last quarter. GeoWealth Management LLC lifted its holdings in Cadence Design Systems by 29.0% in the 4th quarter. GeoWealth Management LLC now owns 1,956 shares of the software maker's stock valued at $588,000 after purchasing an additional 440 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cadence Design Systems by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 583,275 shares of the software maker's stock valued at $175,269,000 after purchasing an additional 4,174 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Up 0.6%

CDNS traded up $2.06 on Friday, reaching $349.63. 974,573 shares of the company's stock were exchanged, compared to its average volume of 2,033,648. The company's 50 day moving average is $328.36 and its 200-day moving average is $295.48. The company has a market cap of $95.27 billion, a price-to-earnings ratio of 94.49, a PEG ratio of 4.53 and a beta of 0.97. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company's revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior 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. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $358.72, for a total value of $358,720.00. Following the completion of the sale, the vice president owned 104,499 shares of the company's stock, valued at $37,485,881.28. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the sale, the director directly owned 8,010 shares of the company's stock, valued at $2,435,040. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,830 shares of company stock valued at $1,207,671 in the last ninety days. 1.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CDNS. Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. KeyCorp upped their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Loop Capital increased their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $364.33.

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.