KP Management LLC Sells 13,500 Shares of Cadence Design Systems, Inc. $CDNS

KP Management LLC trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 41.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,000 shares of the software maker’s stock after selling 13,500 shares during the quarter. Cadence Design Systems makes up about 1.9% of KP Management LLC’s portfolio, making the stock its 19th largest holding. KP Management LLC’s holdings in Cadence Design Systems were worth $5,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of Cadence Design Systems by 62.9% during the first quarter. Vestmark Advisory Solutions Inc. now owns 4,976 shares of the software maker’s stock worth $1,266,000 after purchasing an additional 1,922 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Cadence Design Systems by 2.5% in the 1st quarter. Raymond James Financial Inc. now owns 587,009 shares of the software maker’s stock valued at $149,294,000 after buying an additional 14,585 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Cadence Design Systems by 0.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 24,874 shares of the software maker’s stock worth $6,326,000 after buying an additional 206 shares during the period. Finally, Northwest & Ethical Investments L.P. bought a new stake in Cadence Design Systems during the 1st quarter worth approximately $1,172,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 3.6%

Shares of Cadence Design Systems stock opened at $323.22 on Friday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The stock’s 50-day simple moving average is $326.91 and its 200 day simple moving average is $330.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a market capitalization of $87.98 billion, a P/E ratio of 83.30, a P/E/G ratio of 4.16 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data 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 during 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%. Cadence Design Systems’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director owned 7,650 shares of the company’s stock, valued at $2,581,722. This represents a 2.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,720 shares of company stock valued at $14,163,377 in the last ninety days. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CDNS shares. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a research note on Monday, December 1st. Citigroup initiated coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 target price on the stock. BNP Paribas initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. BNP Paribas Exane began coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Finally, Wolfe Research reiterated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.11.

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.