Allspring Global Investments Holdings LLC Sells 5,506 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Cadence Design Systems by 0.9%, selling 5,506 shares, and now owns 0.22% of the company, valued at approximately $186.2 million.
• Several hedge funds, including Brighton Jones LLC and GAMMA Investing LLC, have recently increased their stakes in Cadence Design Systems, indicating a shift in institutional interest.
• Cadence Design Systems reported a 20.2% increase in revenue year-over-year, with Q2 earnings of $1.65 EPS, beating consensus estimates, and set a Q3 guidance of 1.750-1.810 EPS.

Allspring Global Investments Holdings LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 601,772 shares of the software maker's stock after selling 5,506 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of Cadence Design Systems worth $186,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CDNS. Brighton Jones LLC increased its stake in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after acquiring an additional 676 shares during the period. GAMMA Investing LLC increased its stake in Cadence Design Systems by 22.5% during the 1st quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker's stock worth $1,218,000 after acquiring an additional 879 shares during the period. Opal Wealth Advisors LLC bought a new position in Cadence Design Systems during the 1st quarter worth $78,000. Dynamic Advisor Solutions LLC increased its stake in Cadence Design Systems by 9.5% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,613 shares of the software maker's stock worth $919,000 after acquiring an additional 313 shares during the period. Finally, Factory Mutual Insurance Co. increased its stake in Cadence Design Systems by 18.7% during the 1st quarter. Factory Mutual Insurance Co. now owns 208,971 shares of the software maker's stock worth $53,148,000 after acquiring an additional 32,900 shares during the period. Institutional investors own 84.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CDNS. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Wells Fargo & Company raised their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating, three 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 presently has an average rating of "Moderate Buy" and a consensus price target of $368.53.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 7,500 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the sale, the chief financial officer owned 70,715 shares of the company's stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the sale, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock valued at $3,729,852 in the last 90 days. 0.37% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Down 6.2%

NASDAQ CDNS opened at $327.00 on Monday. 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, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market cap of $89.10 billion, a price-to-earnings ratio of 88.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99. The business's fifty day moving average is $351.68 and its 200 day moving average is $317.30.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $1.28 EPS. Cadence Design Systems's revenue for the quarter was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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.

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