Cumberland Partners Ltd Sells 182 Shares of Cadence Design Systems, Inc. $CDNS

Cumberland Partners Ltd reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,248 shares of the software maker’s stock after selling 182 shares during the quarter. Cumberland Partners Ltd’s holdings in Cadence Design Systems were worth $3,774,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Cadence Design Systems by 1.0% in the second quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock valued at $8,195,515,000 after purchasing an additional 256,719 shares in the last quarter. Jennison Associates LLC increased its position in shares of Cadence Design Systems by 3.0% during the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after purchasing an additional 273,149 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cadence Design Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after purchasing an additional 77,478 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cadence Design Systems by 7.1% in 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 buying an additional 312,757 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Cadence Design Systems by 14.0% during the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after buying an additional 296,983 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president directly owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,230 shares of company stock valued at $5,530,682. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

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

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analyst Weigh In

CDNS has been the topic of several recent analyst reports. Piper Sandler restated a “neutral” rating and set a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Oppenheimer increased their price target on Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research note on Tuesday, October 28th. Stifel Nicolaus raised their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities boosted their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $376.00.

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.