Cadence Design Systems, Inc. $CDNS Shares Sold by Brookstone Capital Management

Brookstone Capital Management decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,240 shares of the software maker’s stock after selling 2,817 shares during the period. Brookstone Capital Management’s holdings in Cadence Design Systems were worth $7,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Global X Japan Co. Ltd. increased its position in Cadence Design Systems by 5,527.0% during the 3rd quarter. Global X Japan Co. Ltd. now owns 2,082 shares of the software maker’s stock worth $731,000 after purchasing an additional 2,045 shares in the last quarter. Optas LLC grew its holdings in Cadence Design Systems by 6.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the software maker’s stock valued at $625,000 after buying an additional 104 shares during the period. Trust Co. of Vermont grew its holdings in Cadence Design Systems by 273.3% in the 3rd quarter. Trust Co. of Vermont now owns 280 shares of the software maker’s stock valued at $98,000 after buying an additional 205 shares during the period. Farther Finance Advisors LLC grew its holdings in Cadence Design Systems by 78.8% in the third quarter. Farther Finance Advisors LLC now owns 5,789 shares of the software maker’s stock valued at $2,034,000 after purchasing an additional 2,552 shares during the period. Finally, Patton Fund Management Inc. raised its position in shares of Cadence Design Systems by 1,743.7% in the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock worth $4,916,000 after buying an additional 13,235 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CDNS shares. BNP Paribas started coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Wolfe Research restated an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Citigroup started coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday, December 15th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $318.89 on Friday. The firm has a market capitalization of $86.80 billion, a PE ratio of 82.19, a P/E/G ratio of 4.09 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. The firm has a 50-day moving average price of $323.16 and a 200 day moving average price of $331.77. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion during 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 business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 EPS. 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. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Anirudh Devgan sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the transaction, the chief executive officer owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the transaction, the vice president directly owned 20,321 shares in the company, valued at approximately $6,897,557.03. The trade was a 21.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,525 shares of company stock worth $23,021,216 in the last quarter. 1.99% of the stock is currently owned by corporate insiders.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.