Martin Currie Ltd. Cuts Stock Position in Cadence Design Systems, Inc. $CDNS

Martin Currie Ltd. trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.2% in the second quarter, HoldingsChannel.com reports. The fund owned 202,957 shares of the software maker’s stock after selling 15,814 shares during the period. Cadence Design Systems accounts for 2.4% of Martin Currie Ltd.’s holdings, making the stock its 15th largest position. Martin Currie Ltd.’s holdings in Cadence Design Systems were worth $62,541,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in Cadence Design Systems during the 1st quarter worth approximately $27,000. Barrett & Company Inc. purchased a new position in Cadence Design Systems in the 2nd quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. grew its stake 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 worth $39,000 after acquiring an additional 37 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Cadence Design Systems in the second quarter worth $40,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Rosenblatt Securities increased their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Thursday, November 13th. Finally, Robert W. Baird boosted their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total value of $1,819,290.00. Following the completion of the transaction, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $340.26, for a total value of $340,260.00. Following the sale, the vice president owned 98,067 shares in the company, valued at $33,368,277.42. This trade represents a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,230 shares of company stock valued at $5,530,682 in the last ninety days. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Price Performance

CDNS stock opened at $302.14 on Friday. The business has a 50 day moving average price of $337.57 and a 200 day moving average price of $329.54. 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 stock has a market cap of $82.24 billion, a price-to-earnings ratio of 77.87, a PEG ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $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 anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.