Alliancebernstein L.P. Sells 254,968 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Alliancebernstein L.P. reduced its stake in Cadence Design Systems, Inc. by 4.5% to approximately $1.38 billion, owning about 1.99% of the company.
• Cadence Design Systems reported $1.65 EPS for the latest quarter, exceeding estimates, and a 20.2% increase in revenue compared to the previous year.
• Institutional investors hold a significant portion of the company’s stock, with 84.85% ownership, indicating strong institutional interest.

Alliancebernstein L.P. lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,421,226 shares of the software maker's stock after selling 254,968 shares during the quarter. Alliancebernstein L.P. owned approximately 1.99% of Cadence Design Systems worth $1,378,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth about $25,000. Costello Asset Management INC acquired a new stake in Cadence Design Systems during the 1st quarter worth about $25,000. Saudi Central Bank acquired a new stake in Cadence Design Systems during the 1st quarter worth about $27,000. Valley National Advisers Inc. boosted its position in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares during the period. Finally, Ancora Advisors LLC boosted its position in Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDNS. KeyCorp boosted their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Mizuho boosted their price target on Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Piper Sandler reissued a "neutral" rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research note on Wednesday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $364.33.

Cadence Design Systems Stock Performance

Shares of CDNS stock traded up $1.68 during trading hours on Friday, reaching $351.01. 1,115,780 shares of the company's stock were exchanged, compared to its average volume of 1,252,134. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market capitalization of $95.65 billion, a P/E ratio of 94.87, a P/E/G ratio of 4.60 and a beta of 1.00. The business has a fifty day moving average price of $339.27 and a 200-day moving average price of $299.35. 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 (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the transaction, the director owned 8,010 shares of the company's stock, valued at $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,180 shares of company stock worth $1,365,740 in the last ninety days. 1.99% of the stock is currently owned by insiders.

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.