Cadence Design Systems, Inc. $CDNS Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 35.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 913 shares of the software maker’s stock after selling 497 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Cadence Design Systems were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. CreativeOne Wealth LLC grew its holdings in Cadence Design Systems by 1.2% during the second quarter. CreativeOne Wealth LLC now owns 6,095 shares of the software maker’s stock worth $1,878,000 after acquiring an additional 70 shares during the period. Global Retirement Partners LLC purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $699,000. Prudential Financial Inc. grew its stake in shares of Cadence Design Systems by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 154,969 shares of the software maker’s stock worth $47,754,000 after purchasing an additional 13,511 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Cadence Design Systems by 6.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 8,410 shares of the software maker’s stock valued at $2,591,000 after purchasing an additional 494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Cadence Design Systems by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,825,386 shares of the software maker’s stock valued at $562,493,000 after purchasing an additional 45,538 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CDNS. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Tuesday. Oppenheimer lifted their price target on Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Wolfe Research restated an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $376.47.

Cadence Design Systems Trading Up 0.9%

CDNS stock opened at $306.35 on Thursday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The business’s 50-day moving average is $334.04 and its 200 day moving average is $329.59. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48. The stock has a market cap of $83.39 billion, a price-to-earnings ratio of 78.96, a PEG ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,230 shares of company stock worth $5,530,682. Company insiders own 1.99% of the company’s stock.

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.