Sawgrass Asset Management LLC Buys 3,038 Shares of Cadence Design Systems, Inc. $CDNS

Sawgrass Asset Management LLC increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.3% in the third quarter, Holdings Channel.com reports. The fund owned 27,650 shares of the software maker’s stock after purchasing an additional 3,038 shares during the period. Cadence Design Systems comprises about 1.2% of Sawgrass Asset Management LLC’s holdings, making the stock its 25th biggest position. Sawgrass Asset Management LLC’s holdings in Cadence Design Systems were worth $9,712,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC grew its position 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 valued at $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after buying an additional 80 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Cadence Design Systems during the second quarter valued at approximately $223,000. ST Germain D J Co. Inc. grew its holdings in Cadence Design Systems by 234.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 720 shares of the software maker’s stock valued at $222,000 after buying an additional 505 shares in the last quarter. Finally, Patton Fund Management Inc. purchased a new position in Cadence Design Systems during the 2nd quarter valued at approximately $234,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CDNS shares. Citigroup assumed coverage on Cadence Design Systems in a research report on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Monday, December 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.59.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Scannell sold 5,490 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This trade represents a 21.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the transaction, the chief financial officer owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. The trade was a 28.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,025 shares of company stock valued at $20,369,946. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Trading Up 0.4%

Shares of CDNS opened at $318.32 on Friday. The company’s fifty day simple moving average is $317.17 and its 200-day simple moving average is $333.31. The company has a market cap of $86.65 billion, a P/E ratio of 82.04, a P/E/G ratio of 3.55 and a beta of 1.02. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 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 (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.