Wellington Management Group LLP Has $117.85 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Wellington Management Group LLP increased its stake in Cadence Design Systems by 14.8%, owning a total of 463,353 shares valued at approximately $117.85 million.
• Cadence Design Systems reported earnings of $1.65 EPS for the last quarter, exceeding estimates, with revenue of $1.28 billion, representing a year-over-year growth of 20.2%.
• Multiple research firms have raised their price targets for Cadence Design Systems, with estimates ranging from $350 to $405, indicating strong market confidence in the stock's potential.

Wellington Management Group LLP boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 463,353 shares of the software maker's stock after purchasing an additional 59,671 shares during the period. Wellington Management Group LLP owned 0.17% of Cadence Design Systems worth $117,845,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CDNS. Cornerstone Select Advisors LLC increased its position in shares of Cadence Design Systems by 4.6% during the 1st quarter. Cornerstone Select Advisors LLC now owns 4,056 shares of the software maker's stock worth $1,032,000 after purchasing an additional 179 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Cadence Design Systems by 3.0% in the first quarter. Aptus Capital Advisors LLC now owns 3,590 shares of the software maker's stock valued at $913,000 after buying an additional 104 shares in the last quarter. Aviso Financial Inc. grew its stake in shares of Cadence Design Systems by 4.9% in the first quarter. Aviso Financial Inc. now owns 6,177 shares of the software maker's stock valued at $1,571,000 after buying an additional 291 shares in the last quarter. Algert Global LLC acquired a new position in Cadence Design Systems during the first quarter worth $518,000. Finally, George Kaiser Family Foundation bought a new stake in Cadence Design Systems during the first quarter worth $282,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Up 0.6%

Shares of CDNS stock opened at $347.57 on Friday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a market capitalization of $94.71 billion, a PE ratio of 93.94, a price-to-earnings-growth ratio of 4.53 and a beta of 0.97. The firm has a 50 day moving average price of $328.36 and a two-hundred day moving average price of $295.48. 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 posted its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion for 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 firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $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, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president directly owned 104,499 shares of the company's stock, valued at approximately $37,485,881.28. This trade represents a 0.95% decrease in their ownership of the stock. The transaction 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 business's stock in a transaction dated 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 represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,207,671 in the last quarter. Company insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDNS. Mizuho boosted their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Bank of America lifted their price target on Cadence Design Systems from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Loop Capital boosted their price target on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wells Fargo & Company raised their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 target price on Cadence Design Systems in a research note on Wednesday, July 30th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $364.33.

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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