Catalyst Capital Advisors LLC Reduces Stock Position in Cadence Design Systems, Inc. $CDNS

Catalyst Capital Advisors LLC decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,144 shares of the software maker’s stock after selling 284 shares during the period. Catalyst Capital Advisors LLC’s holdings in Cadence Design Systems were worth $969,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CDNS. Nuveen LLC bought a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $289,744,000. Jennison Associates LLC boosted its stake in shares of Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock valued at $2,305,489,000 after purchasing an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after purchasing an additional 647,931 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after purchasing an additional 429,955 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock valued at $3,729,852 over the last three months. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDNS. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. BNP Paribas Exane began 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. KeyCorp lifted their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Needham & Company LLC lifted their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $369.71.

Cadence Design Systems Stock Up 2.0%

CDNS opened at $337.27 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $347.09 and a 200-day moving average price of $321.29. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The stock has a market capitalization of $91.90 billion, a price-to-earnings ratio of 91.15, a PEG ratio of 4.33 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems Company 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.