Los Angeles Capital Management LLC Cuts Stake in Cadence Design Systems, Inc. $CDNS

Los Angeles Capital Management LLC cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 67.9% during the second quarter, Holdings Channel reports. The firm owned 9,446 shares of the software maker’s stock after selling 19,957 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cadence Design Systems were worth $2,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the first quarter worth $25,000. Saudi Central Bank bought a new stake in Cadence Design Systems in the 1st quarter valued at $27,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems in the 2nd quarter worth $31,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cadence Design Systems by 41.1% during the 2nd 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 last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Cadence Design Systems during the second quarter valued at about $40,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Up 1.2%

Shares of CDNS opened at $328.94 on Tuesday. The company’s fifty day simple moving average is $343.92 and its 200-day simple moving average is $329.22. The company has a market cap of $89.54 billion, a P/E ratio of 84.78, a P/E/G ratio of 4.55 and a beta of 1.00. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued 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. The company 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 firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. 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, analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BNP Paribas began coverage on 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. Piper Sandler reissued a “neutral” rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $376.00.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $340.26, for a total value of $340,260.00. Following the completion of the sale, the vice president owned 98,067 shares in the company, valued at approximately $33,368,277.42. The trade was a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,230 shares of company stock valued at $5,530,682. Corporate insiders own 1.99% of the company’s stock.

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.