Cadence Design Systems, Inc. $CDNS Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in Cadence Design Systems by 6.1%, owning 526,223 shares, which were valued at approximately $162.3 million after selling 34,431 shares during Q2.
• Cadence Design Systems reported a 20.2% increase in revenue year-over-year for Q2, totaling $1.28 billion and earning $1.65 per share, exceeding analysts' expectations.
• Institutional investors own 84.85% of Cadence Design Systems, with several firms, like Brighton Jones LLC and Farther Finance Advisors LLC, increasing their stakes significantly during the last quarters.

Aberdeen Group plc decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 526,223 shares of the software maker's stock after selling 34,431 shares during the quarter. Aberdeen Group plc owned approximately 0.19% of Cadence Design Systems worth $162,279,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after buying an additional 676 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Cadence Design Systems by 37.2% during the first quarter. Farther Finance Advisors LLC now owns 3,981 shares of the software maker's stock valued at $1,030,000 after buying an additional 1,079 shares in the last quarter. GAMMA Investing LLC raised its stake in Cadence Design Systems by 22.5% during the first quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker's stock valued at $1,218,000 after buying an additional 879 shares in the last quarter. CX Institutional raised its stake in Cadence Design Systems by 2.3% during the first quarter. CX Institutional now owns 1,833 shares of the software maker's stock valued at $466,000 after buying an additional 42 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its stake in Cadence Design Systems by 54.9% during the first quarter. Simon Quick Advisors LLC now owns 1,911 shares of the software maker's stock valued at $486,000 after buying an additional 677 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $327.00 on Friday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm has a market capitalization of $89.10 billion, a price-to-earnings ratio of 88.38, a price-to-earnings-growth ratio of 4.57 and a beta of 0.99. The business has a 50 day simple moving average of $351.68 and a 200 day simple moving average of $316.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The business 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 business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. 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, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CDNS shares. Piper Sandler restated a "neutral" rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Mizuho increased their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cadence Design Systems in a research report on Wednesday. KeyCorp increased their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average target price of $368.53.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the 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 transaction, the vice president directly owned 99,672 shares of the company's stock, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,680 shares of company stock valued at $3,729,852. 1.99% of the stock is owned by corporate insiders.

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.

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