Cadence Design Systems, Inc. $CDNS Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 36.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,150 shares of the software maker’s stock after selling 650 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Cadence Design Systems were worth $354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after acquiring an additional 429,955 shares during the period. Jennison Associates LLC boosted its holdings in Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after purchasing an additional 273,149 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after purchasing an additional 312,757 shares during the period. Invesco Ltd. raised its stake in shares of Cadence Design Systems by 14.0% during the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock valued at $614,534,000 after buying an additional 296,983 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Cadence Design Systems by 3.4% during the 2nd quarter. Swedbank AB now owns 1,979,920 shares of the software maker’s stock valued at $610,112,000 after buying an additional 64,514 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on CDNS shares. Mizuho raised their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Wolfe Research reissued an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Loop Capital lifted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $338.69 on Monday. The stock has a 50 day moving average of $346.26 and a two-hundred day moving average of $326.42. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market cap of $92.19 billion, a P/E ratio of 87.29, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,680 shares of company stock worth $3,371,132 over the last three months. Insiders own 1.99% of the company’s stock.

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.