Cadence Design Systems, Inc. $CDNS Shares Sold by Bailard Inc.

Bailard Inc. trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,519 shares of the software maker’s stock after selling 1,154 shares during the period. Bailard Inc.’s holdings in Cadence Design Systems were worth $5,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems during the first quarter worth about $25,000. Saudi Central Bank purchased a new position in Cadence Design Systems during the 1st quarter worth approximately $27,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter worth approximately $31,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after acquiring an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Cadence Design Systems during the second quarter worth approximately $40,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.0%

Shares of Cadence Design Systems stock opened at $315.35 on Thursday. The firm has a market cap of $85.84 billion, a price-to-earnings ratio of 81.28, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company’s 50-day simple moving average is $342.80 and its 200-day simple moving average is $329.32. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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 owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,230 shares of company stock worth $5,530,682. Insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several research reports. KeyCorp reiterated an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Robert W. Baird upped their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Loop Capital increased their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $376.00.

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.