TD Waterhouse Canada Inc. Decreases Stock Holdings in Cadence Design Systems, Inc. $CDNS

TD Waterhouse Canada Inc. trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,054 shares of the software maker’s stock after selling 494 shares during the period. TD Waterhouse Canada Inc.’s holdings in Cadence Design Systems were worth $3,111,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CDNS. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cadence Design Systems by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after acquiring an additional 14,022 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Cadence Design Systems by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,779,848 shares of the software maker’s stock valued at $452,669,000 after purchasing an additional 73,719 shares during the last quarter. EFG Asset Management North America Corp. purchased a new stake in Cadence Design Systems in the second quarter worth $4,073,000. Nuveen LLC purchased a new stake in Cadence Design Systems in the first quarter worth $289,744,000. Finally, Lyell Wealth Management LP raised its stake in shares of Cadence Design Systems by 4.9% in the second quarter. Lyell Wealth Management LP now owns 50,339 shares of the software maker’s stock valued at $15,512,000 after buying an additional 2,357 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Loop Capital upped their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted 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 note on Tuesday, October 28th. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Finally, KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fourteen equities 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $376.00.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This trade 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 this link. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $300.58 on Friday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The stock has a market capitalization of $81.82 billion, a price-to-earnings ratio of 77.47, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The company has a fifty day moving average of $336.71 and a 200-day moving average of $329.48. 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 for the quarter, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous 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. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Cadence Design Systems Company 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.