Martin Currie Ltd. Lowers Stake in Cadence Design Systems, Inc. $CDNS

Martin Currie Ltd. decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,957 shares of the software maker’s stock after selling 15,814 shares during the quarter. Cadence Design Systems accounts for about 2.4% of Martin Currie Ltd.’s holdings, making the stock its 15th largest holding. Martin Currie Ltd. owned 0.07% of Cadence Design Systems worth $62,541,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDNS. Brighton Jones LLC increased its holdings in Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares in the last quarter. Private Advisor Group LLC lifted its stake in Cadence Design Systems by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 10,085 shares of the software maker’s stock valued at $2,565,000 after buying an additional 126 shares in the last quarter. Ignite Planners LLC boosted its holdings in Cadence Design Systems by 8.1% in the 1st quarter. Ignite Planners LLC now owns 730 shares of the software maker’s stock worth $186,000 after buying an additional 55 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Cadence Design Systems by 4.6% in the 1st quarter. Wedbush Securities Inc. now owns 1,110 shares of the software maker’s stock worth $282,000 after buying an additional 49 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in Cadence Design Systems by 9.6% during the 1st quarter. AE Wealth Management LLC now owns 9,586 shares of the software maker’s stock worth $2,438,000 after buying an additional 841 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Down 1.5%

Shares of CDNS opened at $302.14 on Friday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $337.57 and a two-hundred day simple moving average of $329.54. The company has a market capitalization of $82.24 billion, a PE ratio of 77.87, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The company’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 analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems 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 note on Sunday, September 21st. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Robert W. Baird increased their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the transaction, the chief financial officer 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the sale, the vice president owned 98,067 shares in the company, valued at approximately $33,368,277.42. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,230 shares of company stock worth $5,530,682 in the last 90 days. 1.99% of the stock is 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.