QRG Capital Management Inc. Decreases Holdings in Cadence Design Systems, Inc. $CDNS

QRG Capital Management Inc. trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,404 shares of the software maker’s stock after selling 11,948 shares during the quarter. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $13,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the second quarter worth approximately $31,000. Robbins Farley purchased a new position in shares of Cadence Design Systems during the 3rd quarter worth $35,000. Strategic Wealth Investment Group LLC bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at $32,000. Promus Capital LLC purchased a new stake in shares of Cadence Design Systems in the 2nd quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC bought a new position in Cadence Design Systems in the 3rd quarter worth $39,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CDNS. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a research note on Monday, December 1st. BNP Paribas Exane initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Finally, Rosenblatt Securities raised their price target on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the sale, the director owned 7,650 shares of the company’s stock, valued at $2,581,722. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the transaction, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. This trade represents a 21.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,025 shares of company stock valued at $20,369,946 over the last 90 days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $317.45 on Friday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company’s 50-day moving average is $317.57 and its 200 day moving average is $333.58. The firm has a market capitalization of $86.41 billion, a P/E ratio of 81.82, a price-to-earnings-growth ratio of 3.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84.

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

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.