Sculptor Capital LP Boosts Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Sculptor Capital LP increased its stake in Cadence Design Systems by 26.2% in Q1, owning approximately 175,200 shares valued at $44.56 million.
• Institutional investors currently own about 84.85% of Cadence Design Systems, indicating strong institutional interest in the company's stock.
• Cadence Design Systems reported $1.65 EPS for the last quarter, beating estimates by $0.09, and its revenue increased by 20.2% year-over-year.

Sculptor Capital LP raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 26.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,200 shares of the software maker's stock after buying an additional 36,400 shares during the quarter. Sculptor Capital LP owned 0.06% of Cadence Design Systems worth $44,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after buying an additional 429,955 shares in the last quarter. Jennison Associates LLC grew its holdings in Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cadence Design Systems by 10.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock valued at $1,326,912,000 after buying an additional 427,418 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Cadence Design Systems by 12.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,530,293 shares of the software maker's stock valued at $760,314,000 after buying an additional 285,617 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Cadence Design Systems by 14.0% during the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after acquiring an additional 296,983 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $358.72, for a total value of $358,720.00. Following the sale, the vice president directly owned 104,499 shares in the company, valued at $37,485,881.28. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of the sale, the director owned 8,010 shares in the company, 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. In the last ninety days, insiders have sold 3,180 shares of company stock worth $1,021,790. 0.37% of the stock is owned by insiders.

Cadence Design Systems Trading Down 1.1%

Shares of CDNS traded down $3.86 during mid-day trading on Monday, reaching $350.43. 1,303,717 shares of the company were exchanged, compared to its average volume of 1,395,147. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. 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 stock has a market capitalization of $95.49 billion, a PE ratio of 94.71, a PEG ratio of 4.60 and a beta of 1.00. The business has a 50 day simple moving average of $335.53 and a two-hundred day simple moving average of $297.80.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping 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 business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The firm's revenue 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. On average, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDNS has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 target price on the stock. Needham & Company LLC increased their target price on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Wells Fargo & Company increased their target price on Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Robert W. Baird increased their target price on Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Loop Capital increased their target price on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.