Cadence Design Systems, Inc. $CDNS Shares Sold by Bailard Inc.

Bailard Inc. cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,519 shares of the software maker’s stock after selling 1,154 shares during the quarter. Bailard Inc.’s holdings in Cadence Design Systems were worth $5,090,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CDNS. Geode Capital Management LLC grew its holdings in Cadence Design Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock valued at $1,952,771,000 after purchasing an additional 77,478 shares during the last quarter. ABC Arbitrage SA acquired a new stake in Cadence Design Systems in the 2nd quarter valued at about $4,537,000. Accredited Investors Inc. grew its stake in Cadence Design Systems by 33.4% in the 2nd quarter. Accredited Investors Inc. now owns 2,862 shares of the software maker’s stock valued at $882,000 after acquiring an additional 716 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Cadence Design Systems by 2.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 320,394 shares of the software maker’s stock valued at $98,729,000 after acquiring an additional 7,698 shares in the last quarter. Finally, Wealth Alliance LLC acquired a new position in Cadence Design Systems during the second quarter worth about $200,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.0%

Shares of Cadence Design Systems stock opened at $315.35 on Thursday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The business’s fifty day moving average is $342.80 and its two-hundred day moving average is $329.32. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm has a market cap of $85.84 billion, a PE ratio of 81.28, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last released 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The business’s quarterly 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. 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.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Wells Fargo & Company upped their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Loop Capital increased their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anirudh Devgan sold 5,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $64,197,663.20. This trade represents a 2.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 16,230 shares of company stock valued at $5,530,682. Insiders own 1.99% of the company’s stock.

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.