Baillie Gifford & Co. Reduces Stock Holdings in Cadence Design Systems, Inc. $CDNS

Baillie Gifford & Co. reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,152 shares of the software maker’s stock after selling 4,569 shares during the period. Baillie Gifford & Co.’s holdings in Cadence Design Systems were worth $12,699,000 at the end of the most recent quarter.

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

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $318.32 on Friday. 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, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market capitalization of $86.65 billion, a PE ratio of 82.04, a P/E/G ratio of 3.55 and a beta of 1.02. The firm has a 50 day moving average of $317.17 and a two-hundred day moving average of $333.31.

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 analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. On average, research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDNS has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 target price on the stock. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Finally, Rosenblatt Securities boosted their price target on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Thirteen 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $379.59.

Insider Activity at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total transaction of $60,746.40. Following the sale, the director directly owned 7,650 shares in the company, valued at approximately $2,581,722. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the transaction, the vice president owned 20,321 shares of the company’s stock, valued at $6,897,557.03. This represents a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,025 shares of company stock worth $20,369,946 over the last quarter. 1.99% of the stock is currently owned by 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.