Elyxium Wealth LLC Purchases Shares of 718 Cadence Design Systems, Inc. $CDNS

Elyxium Wealth LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 718 shares of the software maker’s stock, valued at approximately $221,000.

A number of other large investors have also recently added to or reduced their stakes in CDNS. Costello Asset Management INC bought a new position in shares of Cadence Design Systems in the first quarter valued at about $25,000. Saudi Central Bank bought a new position in shares of Cadence Design Systems in the first quarter valued at about $27,000. Barrett & Company Inc. bought a new position in shares of Cadence Design Systems in the second quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after purchasing an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in shares of Cadence Design Systems in the second quarter valued at about $40,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the sale, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,680 shares of company stock worth $3,371,132 over the last ninety days. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $333.22 on Wednesday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market cap of $90.70 billion, a price-to-earnings ratio of 85.88, a P/E/G ratio of 4.55 and a beta of 0.99. The firm’s 50-day simple moving average is $345.84 and its 200 day simple moving average is $327.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CDNS shares. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective on the stock. Mizuho raised their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $376.00.

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.