Stephens Investment Management Group LLC Trims Stock Position in Cadence Design Systems, Inc. $CDNS

Stephens Investment Management Group LLC cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,127 shares of the software maker’s stock after selling 23,875 shares during the period. Stephens Investment Management Group LLC’s holdings in Cadence Design Systems were worth $21,918,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC purchased a new position in Cadence Design Systems during the first quarter worth about $25,000. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at approximately $27,000. Valley National Advisers Inc. raised its stake in shares of Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after acquiring an additional 99 shares during the period. Finally, Barrett & Company Inc. purchased a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Robert W. Baird upped their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. JPMorgan Chase & Co. upped their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $320.00 target price on shares of Cadence Design Systems in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.71.

Cadence Design Systems Trading Down 0.9%

NASDAQ CDNS opened at $330.51 on Thursday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market capitalization of $90.06 billion, a PE ratio of 89.33, a price-to-earnings-growth ratio of 4.37 and a beta of 0.99. The firm has a 50 day moving average of $347.32 and a two-hundred day moving average of $320.58.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping 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 company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s 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. As a group, research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity

In related news, CFO John M. Wall sold 7,500 shares of the 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 owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The sale 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 stock in a transaction 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 sale, the director owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,680 shares of company stock worth $3,729,852. Corporate insiders own 1.99% of the company’s stock.

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.