Donoghue Forlines LLC Sells 2,382 Shares of Cadence Design Systems, Inc. $CDNS

Donoghue Forlines LLC lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 27.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,415 shares of the software maker’s stock after selling 2,382 shares during the quarter. Donoghue Forlines LLC’s holdings in Cadence Design Systems were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Nippon Life Global Investors Americas Inc. raised its stake in Cadence Design Systems by 4.7% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 3,360 shares of the software maker’s stock valued at $1,180,000 after buying an additional 150 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Cadence Design Systems by 5.3% during the third quarter. Resonant Capital Advisors LLC now owns 1,441 shares of the software maker’s stock worth $506,000 after acquiring an additional 73 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Cadence Design Systems by 2.6% during the third quarter. Maryland State Retirement & Pension System now owns 13,608 shares of the software maker’s stock valued at $4,780,000 after acquiring an additional 346 shares in the last quarter. Occidental Asset Management LLC raised its position in shares of Cadence Design Systems by 2.3% in the 3rd quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $464,000 after purchasing an additional 30 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in Cadence Design Systems by 15.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 3,135 shares of the software maker’s stock worth $1,101,000 after purchasing an additional 408 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CDNS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective on the stock in a research note on Monday, December 1st. Wolfe Research reissued an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Fourteen equities research 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, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $380.72.

Cadence Design Systems Stock Down 1.0%

CDNS stock opened at $317.45 on Friday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The firm’s fifty day moving average is $317.57 and its 200 day moving average is $333.58. The firm has a market cap of $86.41 billion, a PE ratio of 81.82, a P/E/G ratio of 3.54 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $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, research analysts forecast 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 Scannell sold 5,490 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $315.70, for a total value of $315,700.00. Following the completion of the sale, the vice president directly owned 96,067 shares of the company’s stock, valued at $30,328,351.90. This trade represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,025 shares of company stock worth $20,369,946 in the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Company 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.