Carderock Capital Management Inc. Sells 3,561 Shares of Cadence Design Systems, Inc. $CDNS

Carderock Capital Management Inc. lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,628 shares of the software maker’s stock after selling 3,561 shares during the quarter. Cadence Design Systems makes up 1.9% of Carderock Capital Management Inc.’s portfolio, making the stock its 29th largest holding. Carderock Capital Management Inc.’s holdings in Cadence Design Systems were worth $7,281,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Legacy Capital Wealth Partners LLC raised its holdings in Cadence Design Systems by 2.8% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after purchasing an additional 33 shares during the period. Empower Advisory Group LLC grew its holdings in Cadence Design Systems by 4.1% during the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after purchasing an additional 36 shares during the period. Gamco Investors INC. ET AL increased its position in Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after buying an additional 36 shares in the last quarter. Principal Street Partners LLC raised its stake in shares of Cadence Design Systems by 2.6% in the fourth quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker’s stock worth $437,000 after buying an additional 37 shares during the period. Finally, Greenleaf Trust raised its stake in shares of Cadence Design Systems by 0.7% in the first quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock worth $1,476,000 after buying an additional 39 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 6.4%

Shares of CDNS opened at $338.53 on Thursday. The firm has a market cap of $92.25 billion, a P/E ratio of 91.49, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The company has a 50 day simple moving average of $341.92 and a two-hundred day simple moving average of $300.96.

Cadence Design Systems (NASDAQ:CDNS) last released its 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 firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CDNS shares. Needham & Company LLC boosted their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Piper Sandler reiterated a “neutral” rating and issued a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” 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 note on Sunday, August 31st. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $364.33.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 4,000 shares of company stock valued at $1,311,020. 1.99% of the stock is owned by insiders.

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.