Welch Group LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Welch Group LLC acquired 1,000 shares of Cadence Design Systems valued at approximately $308,000, marking a new investment in the company during the 2nd quarter.
• Company insiders, including CFO John M. Wall, sold a total of 10,680 shares worth over $3.7 million in the last quarter, indicating an overall decrease in insider ownership.
• Cadence Design Systems reported a 20.2% increase in revenue year-over-year, with earnings of $1.65 per share for the last quarter, exceeding analysts' expectations.

Welch Group LLC acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,000 shares of the software maker's stock, valued at approximately $308,000.

Other institutional investors have also added to or reduced their stakes in the company. Petros Family Wealth LLC grew its holdings in Cadence Design Systems by 2.6% in the second 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 during the last quarter. Hemington Wealth Management grew its holdings in Cadence Design Systems by 14.0% in the second quarter. Hemington Wealth Management now owns 261 shares of the software maker's stock worth $80,000 after purchasing an additional 32 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Cadence Design Systems by 2.8% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker's stock worth $309,000 after purchasing an additional 33 shares during the last quarter. Empower Advisory Group LLC grew its holdings in Cadence Design Systems by 4.1% in the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock worth $232,000 after purchasing an additional 36 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker's stock worth $3,392,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Wall sold 7,500 shares of the company's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company's stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,680 shares of company stock worth $3,729,852. Company insiders own 0.37% of the company's stock.

Cadence Design Systems Trading Down 6.2%

Shares of Cadence Design Systems stock opened at $327.00 on Monday. The firm has a 50-day simple moving average of $351.68 and a two-hundred day simple moving average of $317.30. The company has a market cap of $89.10 billion, a P/E ratio of 88.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week 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 issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share 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 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 earnings per share. 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 analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on CDNS shares. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Loop Capital boosted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Stifel Nicolaus boosted their price objective 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. Piper Sandler reissued a "neutral" rating and set a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Finally, Mizuho boosted their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Fourteen research 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's stock. According to MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average price target of $368.53.

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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