Louisiana State Employees Retirement System Trims Position in Cadence Design Systems, Inc. $CDNS

Louisiana State Employees Retirement System lessened its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,400 shares of the software maker’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Cadence Design Systems were worth $10,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter worth $25,000. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems during the 1st quarter worth about $25,000. Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth about $31,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems during the 1st quarter worth about $27,000. Finally, Valley National Advisers Inc. increased its position in shares of Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock valued at $3,729,852 in the last quarter. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Needham & Company LLC raised their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. KeyCorp raised their target price on Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Mizuho raised their target price on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $368.53.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $345.48 on Wednesday. The business has a 50-day moving average of $353.01 and a 200 day moving average of $315.36. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The stock has a market capitalization of $94.14 billion, a price-to-earnings ratio of 93.37, a price-to-earnings-growth ratio of 4.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the company 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, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.