SOA Wealth Advisors LLC. Purchases 229 Shares of Cadence Design Systems, Inc. $CDNS

SOA Wealth Advisors LLC. grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 693.9% in the second quarter, HoldingsChannel.com reports. The firm owned 262 shares of the software maker’s stock after acquiring an additional 229 shares during the period. SOA Wealth Advisors LLC.’s holdings in Cadence Design Systems were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after acquiring an additional 429,955 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after acquiring an additional 1,054,702 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cadence Design Systems by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after acquiring an additional 312,757 shares during the last quarter. Invesco Ltd. boosted its position in shares of Cadence Design Systems by 14.0% during the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after acquiring an additional 296,983 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Cadence Design Systems by 0.4% during the first quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker’s stock worth $571,208,000 after acquiring an additional 8,361 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CDNS shares. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Loop Capital upped their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Mizuho increased their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Finally, BNP Paribas started coverage on shares of Cadence Design Systems in a research report on Thursday. They set an “outperform” rating and a $400.00 price objective for the company. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $368.53.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the firm’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 transaction, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the firm’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 directly owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock valued at $3,729,852 in the last 90 days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 1.3%

Shares of CDNS opened at $347.24 on Friday. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market cap of $94.62 billion, a P/E ratio of 93.85, a P/E/G ratio of 4.62 and a beta of 0.99. 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 company’s fifty day simple moving average is $352.74 and its 200-day simple moving average is $313.09.

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