Vestmark Advisory Solutions Inc. Lowers Position in Cadence Design Systems, Inc. $CDNS

Vestmark Advisory Solutions Inc. trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 50.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,487 shares of the software maker’s stock after selling 2,489 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Cadence Design Systems were worth $766,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the first quarter worth $25,000. Saudi Central Bank purchased a new position in shares of Cadence Design Systems in the first quarter valued at about $27,000. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the second quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of 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 valued at $39,000 after acquiring an additional 37 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth about $40,000. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $340.26, for a total value of $340,260.00. Following the transaction, the vice president owned 98,067 shares of the company’s stock, valued at $33,368,277.42. The trade was 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 worth $5,530,682 in the last ninety days. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Oppenheimer upped their target price on Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 28th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 30th. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Price Performance

CDNS opened at $328.94 on Tuesday. The company has a current ratio of 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48. The company has a market cap of $89.54 billion, a price-to-earnings ratio of 84.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The stock has a fifty day simple moving average of $343.92 and a two-hundred day simple moving average of $329.22. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results 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 firm had revenue of $1.34 billion for 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 revenue was up 10.1% compared to the same quarter last year. During the same period 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. Q4 2025 guidance at 1.880-1.940 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share 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.