Intech Investment Management LLC Trims Stake in Cadence Design Systems, Inc. $CDNS

Intech Investment Management LLC cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 29.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,885 shares of the software maker’s stock after selling 3,660 shares during the period. Intech Investment Management LLC’s holdings in Cadence Design Systems were worth $2,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNS. Costello Asset Management INC bought a new stake in Cadence Design Systems in the first quarter worth about $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems in the first quarter worth approximately $27,000. Barrett & Company Inc. bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $31,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Cadence Design Systems by 41.1% during the 2nd 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 period. Finally, Princeton Global Asset Management LLC bought a new position in Cadence Design Systems in the 2nd quarter valued at $40,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wolfe Research reiterated an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. BNP Paribas assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of 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 restated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Thursday, November 13th. Finally, Mizuho lifted their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $376.00.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the sale, the vice president directly owned 98,067 shares of the company’s stock, valued at approximately $33,368,277.42. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,230 shares of company stock valued at $5,530,682. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS opened at $306.76 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The company has a 50 day moving average price of $338.62 and a 200-day moving average price of $329.73. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market capitalization of $83.50 billion, a PE ratio of 79.06, a PEG ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion during 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%. Cadence Design Systems’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities 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.