Louisiana State Employees Retirement System Reduces Stake in Cadence Design Systems, Inc. $CDNS

Louisiana State Employees Retirement System lowered its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 34,400 shares of the software maker’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cadence Design Systems were worth $10,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Petros Family Wealth LLC increased its holdings in shares of Cadence Design Systems by 2.6% in the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after acquiring an additional 32 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its holdings in shares of Cadence Design Systems by 2.8% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock valued at $309,000 after acquiring an additional 33 shares during the last quarter. Empower Advisory Group LLC increased its holdings in shares of Cadence Design Systems by 4.1% in the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after acquiring an additional 36 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Cadence Design Systems by 0.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock valued at $3,392,000 after purchasing an additional 36 shares during the period. Finally, Greenleaf Trust boosted its position in shares of Cadence Design Systems by 0.7% in the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock valued at $1,476,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 2.2%

CDNS opened at $345.48 on Wednesday. The business has a 50 day moving average price of $353.01 and a two-hundred day moving average price of $315.36. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The company has a market cap of $94.14 billion, a PE ratio of 93.37, a P/E/G ratio of 4.63 and a beta of 0.99. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,680 shares of company stock worth $3,729,852. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CDNS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research report on Saturday, September 27th. Rosenblatt Securities reissued a “neutral” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Wells Fargo & Company upped their target price on Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 target price on Cadence Design Systems in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $368.53.

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.