Cadence Design Systems, Inc. $CDNS Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 78.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,789 shares of the software maker’s stock after buying an additional 2,552 shares during the period. Farther Finance Advisors LLC’s holdings in Cadence Design Systems were worth $2,034,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Patton Fund Management Inc. lifted its holdings in shares of Cadence Design Systems by 1,743.7% during the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock valued at $4,916,000 after acquiring an additional 13,235 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Cadence Design Systems by 33.4% during the third quarter. HBK Sorce Advisory LLC now owns 1,489 shares of the software maker’s stock worth $521,000 after purchasing an additional 373 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new stake in shares of Cadence Design Systems in the third quarter worth about $1,162,000. PFW Advisors LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $210,000. Finally, Brighton Jones LLC raised its holdings in shares of Cadence Design Systems by 8.7% during the 3rd quarter. Brighton Jones LLC now owns 2,979 shares of the software maker’s stock valued at $1,046,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $318.89 on Friday. The firm’s 50 day moving average is $323.16 and its two-hundred day moving average is $331.77. The firm has a market capitalization of $86.80 billion, a P/E ratio of 82.19, a PEG ratio of 4.09 and a beta of 1.05. 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 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $1.64 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. 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. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CDNS shares. Rosenblatt Securities boosted their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Wolfe Research restated an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. BNP Paribas started coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.11.

Insiders Place Their Bets

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the transaction, the director owned 7,650 shares in the company, valued at $2,581,722. This represents a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares in the company, 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 69,525 shares of company stock valued at $23,021,216. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Company Profile

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.