Marshall Wace LLP Sells 150,899 Shares of Cadence Design Systems, Inc. $CDNS

Marshall Wace LLP trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 327,080 shares of the software maker’s stock after selling 150,899 shares during the period. Marshall Wace LLP’s holdings in Cadence Design Systems were worth $100,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.0% in the second quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock valued at $8,195,515,000 after buying an additional 256,719 shares during the period. Jennison Associates LLC lifted its stake in shares of Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after acquiring an additional 273,149 shares during the period. Geode Capital Management LLC boosted its holdings in Cadence Design Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock valued at $1,952,771,000 after acquiring an additional 77,478 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock valued at $1,202,733,000 after purchasing an additional 312,757 shares during the period. Finally, Norges Bank bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $1,190,618,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. KeyCorp reiterated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wolfe Research reissued an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities upped their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $379.11.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 5,550 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the completion of the sale, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $312.64, for a total value of $312,640.00. Following the transaction, the vice president directly owned 97,067 shares in the company, valued at $30,347,026.88. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,230 shares of company stock worth $5,499,372. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Up 0.1%

NASDAQ:CDNS opened at $337.53 on Friday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $91.88 billion, a price-to-earnings ratio of 86.99, a PEG ratio of 4.34 and a beta of 1.05. The firm has a fifty day simple moving average of $328.46 and a two-hundred day simple moving average of $329.71.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company 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 business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm 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. Analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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.