Mutual of America Capital Management LLC Cuts Position in Cadence Design Systems, Inc. $CDNS

Mutual of America Capital Management LLC trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.8% during the second quarter, HoldingsChannel.com reports. The firm owned 31,309 shares of the software maker’s stock after selling 581 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cadence Design Systems were worth $9,648,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth about $25,000. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth about $25,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems in the first quarter valued at about $27,000. Valley National Advisers Inc. grew its stake in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after buying an additional 99 shares in the last quarter. Finally, Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems in the second quarter valued at about $31,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Stifel Nicolaus increased their target price on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Piper Sandler reiterated a “neutral” rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Loop Capital increased their target price 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. Finally, JPMorgan Chase & Co. increased their target price on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $368.53.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $326.12 on Monday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The business has a 50 day moving average price of $348.49 and a two-hundred day moving average price of $319.74. 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 firm has a market cap of $88.86 billion, a PE ratio of 88.14, a price-to-earnings-growth ratio of 4.28 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $1.28 EPS. Cadence Design Systems’s quarterly revenue was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems 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 completion of the transaction, the vice president owned 99,672 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 10,680 shares of company stock worth $3,729,852. 0.37% of the stock is currently owned by corporate insiders.

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.