Sands Capital Management LLC Boosts Stock Position in Cadence Design Systems, Inc. $CDNS

Sands Capital Management LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 308,191 shares of the software maker’s stock after purchasing an additional 3,472 shares during the quarter. Sands Capital Management LLC owned about 0.11% of Cadence Design Systems worth $94,969,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Cadence Design Systems during the second quarter worth about $129,000. Berbice Capital Management LLC boosted its position in Cadence Design Systems by 13.6% in the 2nd quarter. Berbice Capital Management LLC now owns 585 shares of the software maker’s stock worth $180,000 after purchasing an additional 70 shares in the last quarter. Groupe la Francaise grew its stake in shares of Cadence Design Systems by 48.3% during the 2nd quarter. Groupe la Francaise now owns 53,483 shares of the software maker’s stock worth $16,408,000 after purchasing an additional 17,408 shares during the period. Beacon Pointe Advisors LLC increased its holdings in shares of Cadence Design Systems by 38.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 2,001 shares of the software maker’s stock valued at $617,000 after purchasing an additional 554 shares in the last quarter. Finally, Arjuna Capital lifted its stake in shares of Cadence Design Systems by 8.4% in the 2nd quarter. Arjuna Capital now owns 919 shares of the software maker’s stock valued at $283,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price 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. Citigroup initiated coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. BNP Paribas initiated coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a report on Tuesday, November 25th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $317.94 on Wednesday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock’s fifty day moving average is $329.40 and its two-hundred day moving average is $329.49. The company has a market capitalization of $86.54 billion, a P/E ratio of 81.94, a P/E/G ratio of 3.98 and a beta of 1.05. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $1.64 EPS. The company’s quarterly 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 and its Q4 2025 guidance at 1.880-1.940 EPS. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on 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 transaction, the vice president owned 98,067 shares of the company’s stock, valued at approximately $33,368,277.42. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anirudh Devgan sold 5,550 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total value of $1,819,290.00. Following the transaction, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. This trade represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 15,230 shares of company stock valued at $5,186,732. 0.37% of the stock is owned by insiders.

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.