Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in Cadence Design Systems, Inc. $CDNS

Northwestern Mutual Wealth Management Co. increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,779 shares of the software maker’s stock after buying an additional 1,951 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cadence Design Systems were worth $4,554,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares during the period. Harbour Investments Inc. grew its holdings in Cadence Design Systems by 27.7% in the first quarter. Harbour Investments Inc. now owns 304 shares of the software maker’s stock valued at $77,000 after purchasing an additional 66 shares during the period. Manchester Capital Management LLC grew its holdings in Cadence Design Systems by 41.7% in the first quarter. Manchester Capital Management LLC now owns 197 shares of the software maker’s stock valued at $50,000 after purchasing an additional 58 shares during the period. Thoroughbred Financial Services LLC increased its position in shares of Cadence Design Systems by 6.9% in the first quarter. Thoroughbred Financial Services LLC now owns 1,604 shares of the software maker’s stock valued at $407,000 after buying an additional 104 shares in the last quarter. Finally, Costello Asset Management INC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $25,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. BNP Paribas initiated coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research note on Monday. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Trading Up 2.7%

Shares of Cadence Design Systems stock opened at $317.94 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The stock’s 50 day simple moving average is $329.40 and its 200-day simple moving average is $329.49. The stock has a market cap of $86.54 billion, a P/E ratio of 81.94, a P/E/G ratio of 3.98 and a beta of 1.05. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. 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 predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,230 shares of company stock worth $5,186,732 in the last quarter. 0.37% of the stock is currently owned by insiders.

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.