Relyea Zuckerberg Hanson LLC Acquires Shares of 748 Cadence Design Systems, Inc. $CDNS

Key Points

• Relyea Zuckerberg Hanson LLC acquired 748 shares of Cadence Design Systems, valued at approximately $230,000, in the second quarter of this year.
• Institutional investors now own 84.85% of Cadence Design Systems, with several firms increasing their positions significantly during the same quarter.
• Cadence Design Systems reported $1.65 EPS in its latest quarterly earnings, exceeding analysts' expectations and representing a 20.2% increase in quarterly revenue from the previous year.

Relyea Zuckerberg Hanson LLC bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 748 shares of the software maker's stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of CDNS. Valley National Advisers Inc. increased its position in Cadence Design Systems by 101.8% during the second quarter. Valley National Advisers Inc. now owns 228 shares of the software maker's stock worth $70,000 after acquiring an additional 115 shares during the period. Petros Family Wealth LLC grew its position in shares of Cadence Design Systems by 2.6% during the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker's stock worth $394,000 after purchasing an additional 32 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Cadence Design Systems by 2.5% during the second quarter. Valeo Financial Advisors LLC now owns 2,111 shares of the software maker's stock worth $651,000 after purchasing an additional 52 shares during the period. Realta Investment Advisors raised its position in shares of Cadence Design Systems by 5.0% in the second quarter. Realta Investment Advisors now owns 3,198 shares of the software maker's stock valued at $985,000 after buying an additional 152 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Cadence Design Systems by 8.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the software maker's stock valued at $723,000 after buying an additional 188 shares during the period. Institutional investors own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CDNS shares. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Robert W. Baird boosted their price target on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Needham & Company LLC upped their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. 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. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $368.53.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 99,672 shares of the company's stock, valued at $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 available at this link. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction dated 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 sale, the chief financial officer directly owned 70,715 shares in the company, valued at $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. In the last ninety days, insiders sold 10,680 shares of company stock worth $3,729,852. Insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Up 1.8%

CDNS stock opened at $353.36 on Tuesday. The firm has a 50-day moving average price of $353.43 and a 200-day moving average price of $315.14. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $96.29 billion, a P/E ratio of 95.50, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period 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. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal 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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