Cadence Design Systems, Inc. $CDNS Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,675 shares of the software maker’s stock after selling 1,330 shares during the quarter. Plato Investment Management Ltd’s holdings in Cadence Design Systems were worth $1,973,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC boosted its holdings in Cadence Design Systems by 2.8% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after acquiring an additional 33 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in Cadence Design Systems by 4.1% in the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after acquiring an additional 36 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after acquiring an additional 36 shares in the last quarter. Principal Street Partners LLC boosted its holdings in Cadence Design Systems by 2.6% in the fourth quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker’s stock worth $437,000 after acquiring an additional 37 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in Cadence Design Systems by 0.7% in the first quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock worth $1,476,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CDNS shares. Robert W. Baird lifted their target price on Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. The Goldman Sachs Group started coverage on Cadence Design Systems in a report on Thursday, July 10th. They set a “buy” rating and a $380.00 target price for the company. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, August 31st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. Finally, KeyCorp lifted their target price on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $364.33.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 4,000 shares of company stock worth $1,311,020 in the last three months. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Down 6.4%

Shares of CDNS stock opened at $338.53 on Thursday. The stock has a 50 day moving average of $341.92 and a 200 day moving average of $300.96. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The stock has a market cap of $92.25 billion, a P/E ratio of 91.49, a P/E/G ratio of 4.74 and a beta of 1.00. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $1.28 earnings per share. 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, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current 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.