Cadence Design Systems, Inc. $CDNS Shares Purchased by NorthRock Partners LLC

by · The Markets Daily

NorthRock Partners LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 14.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,457 shares of the software maker’s stock after purchasing an additional 429 shares during the quarter. NorthRock Partners LLC’s holdings in Cadence Design Systems were worth $1,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CDNS. Brighton Jones LLC lifted its holdings in shares of Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the period. GAMMA Investing LLC lifted its holdings in Cadence Design Systems by 22.5% in the first quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker’s stock valued at $1,218,000 after acquiring an additional 879 shares during the period. Opal Wealth Advisors LLC acquired a new position in Cadence Design Systems in the first quarter valued at approximately $78,000. Dynamic Advisor Solutions LLC lifted its holdings in Cadence Design Systems by 9.5% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,613 shares of the software maker’s stock valued at $919,000 after acquiring an additional 313 shares during the period. Finally, Sowell Financial Services LLC acquired a new position in Cadence Design Systems in the first quarter valued at approximately $830,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 1.6%

Shares of CDNS stock opened at $332.23 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market cap of $90.53 billion, a price-to-earnings ratio of 89.79, a PEG ratio of 4.29 and a beta of 0.99. The stock has a 50 day simple moving average of $351.02 and a 200-day simple moving average of $317.83. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 29.65% and a net margin of 19.88%.The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $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. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,680 shares of company stock worth $3,729,852. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CDNS. The Goldman Sachs Group began coverage on Cadence Design Systems in a report on Thursday, July 10th. They issued a “buy” rating and a $380.00 price target for the company. KeyCorp boosted their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. BNP Paribas began coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a report on Wednesday, July 30th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $368.53.

Get Our Latest Analysis on CDNS

About Cadence Design Systems

(Free Report)

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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