AdvisorNet Financial Inc Sells 52 Shares of Cadence Design Systems, Inc. $CDNS

AdvisorNet Financial Inc reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609 shares of the software maker’s stock after selling 52 shares during the quarter. AdvisorNet Financial Inc’s holdings in Cadence Design Systems were worth $188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Capital Wealth Partners LLC grew its position in shares of Cadence Design Systems by 2.8% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after purchasing an additional 33 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Cadence Design Systems by 4.1% during the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after buying an additional 36 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after buying an additional 36 shares in the last quarter. Greenleaf Trust boosted its position in shares of Cadence Design Systems by 0.7% during the first quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock worth $1,476,000 after acquiring an additional 39 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Cadence Design Systems by 3.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker’s stock valued at $285,000 after acquiring an additional 40 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDNS. KeyCorp lifted their target price on 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 upped their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They issued a “buy” rating and a $380.00 price target on the stock. Finally, Robert W. Baird boosted their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $364.33.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $351.06 on Friday. The company has a market capitalization of $95.66 billion, a PE ratio of 94.88, a price-to-earnings-growth ratio of 4.68 and a beta of 1.00. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $349.81 and its two-hundred day moving average is $309.43.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $1.28 EPS. Cadence Design Systems’s quarterly revenue 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 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,180 shares of company stock worth $1,069,232 over the last 90 days. Company 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.