Rhumbline Advisers Lowers Stock Holdings in Cadence Design Systems, Inc. $CDNS

Rhumbline Advisers cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 524,122 shares of the software maker’s stock after selling 462 shares during the period. Rhumbline Advisers’ holdings in Cadence Design Systems were worth $161,508,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Costello Asset Management INC acquired a new position in Cadence Design Systems in the first quarter valued at $25,000. Saudi Central Bank purchased a new stake in Cadence Design Systems in the 1st quarter valued at about $27,000. Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems during the 2nd quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in 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 purchasing an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of research analyst reports. BNP Paribas began coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Rosenblatt Securities raised their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Robert W. Baird boosted their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Stock Down 0.5%

NASDAQ CDNS opened at $300.58 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market cap of $81.82 billion, a PE ratio of 77.47, a P/E/G ratio of 4.55 and a beta of 1.00. 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 business has a 50 day moving average price of $336.71 and a two-hundred day moving average price of $329.64.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. 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, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, the director owned 7,830 shares in the company, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred 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 sale, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,230 shares of company stock worth $5,530,682. Company insiders own 1.99% of the company’s stock.

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.