Cadence Design Systems, Inc. $CDNS Stock Holdings Lessened by MJP Associates Inc. ADV

MJP Associates Inc. ADV cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,255 shares of the software maker’s stock after selling 212 shares during the quarter. MJP Associates Inc. ADV’s holdings in Cadence Design Systems were worth $695,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Costello Asset Management INC purchased a new position in Cadence Design Systems in the 1st quarter worth about $25,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems during the second quarter valued at about $31,000. Saudi Central Bank acquired a new position in shares of Cadence Design Systems in the first quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Cadence Design Systems by 41.1% in 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 in the last quarter. Finally, Key Financial Inc increased its position in shares of Cadence Design Systems by 174.5% in the second quarter. Key Financial Inc now owns 129 shares of the software maker’s stock worth $40,000 after acquiring an additional 82 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $314.93 on Friday. The business’s 50-day simple moving average is $341.41 and its 200-day simple moving average is $329.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. 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 cap of $85.72 billion, a price-to-earnings ratio of 81.17, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results 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 firm had revenue of $1.34 billion during 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 for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective 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. Rosenblatt Securities raised their target price on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Stifel Nicolaus upped their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Thursday. Finally, Loop Capital increased their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $376.00.

Insider Activity

In related news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, November 3rd. The stock was 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 in the company, valued at $33,368,277.42. This trade represents a 1.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,230 shares of company stock valued at $5,530,682 over the last three months. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.