Aberdeen Group plc Has $140.08 Million Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Aberdeen Group plc sold 119,187 shares of Cadence Design Systems, reducing its ownership by 17.5%, and now holds approximately 0.21% of the company's stock, valued at $140,079,000.
• Cadence Design Systems reported a 20.2% year-over-year revenue increase, reaching $1.28 billion, and earnings per share of $1.65, exceeding analysts' expectations.
• Analyst target prices for Cadence Design Systems have been raised, with several firms setting new price objectives between $380 and $395, reflecting a generally positive outlook on the stock.

Aberdeen Group plc reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 560,654 shares of the software maker's stock after selling 119,187 shares during the period. Aberdeen Group plc owned 0.21% of Cadence Design Systems worth $140,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legacy Capital Wealth Partners LLC grew its stake in Cadence Design Systems by 2.8% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker's stock worth $309,000 after buying an additional 33 shares during the last quarter. Empower Advisory Group LLC boosted its holdings in shares of Cadence Design Systems by 4.1% in the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock worth $232,000 after acquiring an additional 36 shares in the last quarter. Principal Street Partners LLC grew its position in Cadence Design Systems by 2.6% during the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock worth $437,000 after acquiring an additional 37 shares during the last quarter. Greenleaf Trust grew its position in Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock worth $1,476,000 after acquiring an additional 39 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Cadence Design Systems by 3.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker's stock valued at $285,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CDNS. Needham & Company LLC boosted their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Rosenblatt Securities reissued a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a report on Friday, July 25th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, 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 report on Monday, July 28th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

Cadence Design Systems Trading Down 0.4%

Shares of Cadence Design Systems stock traded down $1.43 on Wednesday, hitting $345.45. 1,779,287 shares of the company's stock traded hands, compared to its average volume of 1,995,380. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The stock has a market capitalization of $94.13 billion, a PE ratio of 93.37, a price-to-earnings-growth ratio of 4.55 and a beta of 0.97. The firm's 50-day moving average price is $327.57 and its two-hundred day moving average price is $295.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. Cadence Design Systems's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS. 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, research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total transaction of $358,720.00. Following the completion of the transaction, the vice president owned 104,499 shares in the company, valued at approximately $37,485,881.28. This represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the transaction, the director owned 8,010 shares of the company's stock, valued at approximately $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,830 shares of company stock valued at $1,207,671 in the last quarter. Corporate insiders own 1.99% of the company's stock.

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.