Cadence Design Systems, Inc. $CDNS Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,714 shares of the software maker’s stock after selling 4,569 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Cadence Design Systems were worth $8,330,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems during the 2nd quarter valued at approximately $31,000. Strategic Wealth Investment Group LLC acquired a new stake in Cadence Design Systems in the second quarter valued at $32,000. Promus Capital LLC bought a new position in Cadence Design Systems during the 2nd quarter valued at $33,000. Robbins Farley acquired a new position in Cadence Design Systems during the 3rd quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Cadence Design Systems by 41.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after purchasing an additional 37 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Scannell sold 5,490 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the transaction, the vice president directly owned 20,321 shares in the company, valued at $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John M. Wall sold 27,805 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the sale, the chief financial officer owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. This trade represents a 28.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,025 shares of company stock valued at $20,369,946 in the last three months. Insiders own 0.37% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $325.51 on Tuesday. The firm’s 50 day moving average is $318.30 and its two-hundred day moving average is $333.45. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market capitalization of $88.60 billion, a P/E ratio of 83.89, a PEG ratio of 3.65 and a beta of 1.02. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. 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. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on CDNS. BNP Paribas Exane 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. Citigroup assumed coverage on Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a report on Monday, December 1st. Finally, Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $380.72.

Cadence Design Systems Profile

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.