Cadence Design Systems, Inc. $CDNS Shares Bought by Leelyn Smith LLC

Leelyn Smith LLC raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,574 shares of the software maker’s stock after purchasing an additional 347 shares during the quarter. Leelyn Smith LLC’s holdings in Cadence Design Systems were worth $1,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Peterson Wealth Services lifted its holdings in shares of Cadence Design Systems by 1.8% during the 2nd quarter. Peterson Wealth Services now owns 11,685 shares of the software maker’s stock valued at $3,601,000 after acquiring an additional 207 shares in the last quarter. AlphaQuest LLC boosted its position in Cadence Design Systems by 198.2% during the 2nd quarter. AlphaQuest LLC now owns 5,003 shares of the software maker’s stock worth $1,542,000 after purchasing an additional 3,325 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Cadence Design Systems by 2.0% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,057,759 shares of the software maker’s stock worth $325,948,000 after purchasing an additional 20,401 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Cadence Design Systems by 13,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 277 shares of the software maker’s stock worth $85,000 after purchasing an additional 275 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Cadence Design Systems by 3.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 121,448 shares of the software maker’s stock worth $37,424,000 after purchasing an additional 3,602 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

CDNS opened at $345.10 on Friday. 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, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a 50-day moving average of $346.99 and a 200-day moving average of $322.08. The company has a market capitalization of $94.04 billion, a P/E ratio of 93.27, a PEG ratio of 4.42 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Piper Sandler reiterated a “neutral” rating and issued a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. KeyCorp boosted their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Loop Capital boosted 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. Thirteen equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.71.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, 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. Insiders sold a total of 10,680 shares of company stock valued at $3,729,852 in the last quarter. Insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.