Banque Transatlantique SA Trims Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Banque Transatlantique SA reduced its stake in Cadence Design Systems by 90.8%, selling 13,374 shares and leaving it with only 1,348 shares valued at $317,000.
• Several institutional investors, including Vanguard Group Inc. and Jennison Associates LLC, have increased their holdings in Cadence Design Systems, signaling strong interest from major financial players.
• Cadence Design Systems reported a 20.2% increase in revenue year-over-year, with earnings per share of $1.65 for the most recent quarter, exceeding expectations.

Banque Transatlantique SA reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 90.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,348 shares of the software maker's stock after selling 13,374 shares during the quarter. Banque Transatlantique SA's holdings in Cadence Design Systems were worth $317,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Smallwood Wealth Investment Management LLC purchased a new stake in Cadence Design Systems in the first quarter worth about $25,000. Costello Asset Management INC purchased a new stake in Cadence Design Systems in the first quarter worth about $25,000. Saudi Central Bank purchased a new stake in Cadence Design Systems in the first quarter worth about $27,000. Valley National Advisers Inc. lifted its stake in Cadence Design Systems by 707.1% in the first 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 lifted its stake in Cadence Design Systems by 1,400.0% in the fourth 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. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems 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 value of $54,720.00. Following the completion of the sale, the director directly owned 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction on 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 sale, the vice president owned 102,499 shares of the company's stock, valued at approximately $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,180 shares of company stock valued at $1,365,740 in the last ninety days. Insiders own 0.37% of the company's stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded up $9.63 during trading on Monday, reaching $360.64. The company had a trading volume of 1,762,227 shares, compared to its average volume of 1,989,512. The firm's 50-day simple moving average is $339.27 and its 200 day simple moving average is $299.55. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The firm has a market capitalization of $98.27 billion, a PE ratio of 97.47, a price-to-earnings-growth ratio of 4.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, August 31st. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. KeyCorp upped their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group started coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective on the stock. Finally, Loop Capital upped their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Twelve equities 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 stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

About Cadence Design Systems

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.