Belpointe Asset Management LLC Trims Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Belpointe Asset Management LLC significantly reduced its holdings in Cadence Design Systems by 66.2% during the first quarter, bringing its total shares down to 1,104.
• Multiple institutional investors, including Vanguard Group Inc. and Jennison Associates LLC, increased their positions in Cadence Design Systems during the same period, implying a diverse range of investment strategies around the stock.
• Cadence Design Systems reported a strong earnings performance with an EPS of $1.65 for the last quarter, exceeding analysts' estimates and reflecting a 20.2% year-over-year revenue increase.

Belpointe Asset Management LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,104 shares of the software maker's stock after selling 2,166 shares during the period. Belpointe Asset Management LLC's holdings in Cadence Design Systems were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CDNS. Legacy Capital Wealth Partners LLC grew its position 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 valued at $309,000 after buying an additional 33 shares during the period. Empower Advisory Group LLC grew its position in Cadence Design Systems by 4.1% during the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock valued at $232,000 after buying an additional 36 shares during the period. Gamco Investors INC. ET AL grew its position in Cadence Design Systems by 0.3% during the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker's stock valued at $3,392,000 after buying an additional 36 shares during the period. Principal Street Partners LLC grew its position in Cadence Design Systems by 2.6% during the fourth quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after buying an additional 37 shares during the period. Finally, Greenleaf Trust grew its position in Cadence Design Systems by 0.7% during the first quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock valued at $1,476,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS traded up $5.98 during midday trading on Friday, hitting $370.86. The company's stock had a trading volume of 1,743,410 shares, compared to its average volume of 2,003,063. The business's 50 day simple moving average is $345.22 and its 200 day simple moving average is $305.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The company has a market cap of $101.06 billion, a P/E ratio of 100.19, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm 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%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $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. On average, analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company's stock, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,180 shares of company stock worth $1,069,232. Insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Rosenblatt Securities restated a "neutral" rating and set a $300.00 price target on shares of Cadence Design Systems in a research report on Friday, July 25th. Needham & Company LLC raised their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, KeyCorp lifted their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Twelve investment 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's stock. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average target price of $364.33.

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.