Martin Currie Ltd. Buys 10,183 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Martin Currie Ltd. increased its holdings in Cadence Design Systems by 4.9%, now owning approximately $55.6 million worth, making it the firm's 18th biggest position.
• Recent analyst ratings indicate a mixed outlook; while Wells Fargo and KeyCorp upgraded their target prices to $405, Wall Street Zen lowered the rating from "buy" to "hold."
• Cadence Design Systems reported a quarterly revenue of $1.28 billion, exceeding analysts' expectations, with earnings per share at $1.65, which is a 20.2% increase year-over-year.

Martin Currie Ltd. raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,771 shares of the software maker's stock after buying an additional 10,183 shares during the quarter. Cadence Design Systems accounts for 2.2% of Martin Currie Ltd.'s investment portfolio, making the stock its 18th largest holding. Martin Currie Ltd. owned about 0.08% of Cadence Design Systems worth $55,640,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CDNS. GAMMA Investing LLC lifted its stake in Cadence Design Systems by 31,049.1% in the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock valued at $309,835,000 after buying an additional 1,214,330 shares during the period. Nuveen LLC bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $289,744,000. Jennison Associates LLC increased its holdings in shares of Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after acquiring an additional 1,054,702 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cadence Design Systems by 25.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,937,675 shares of the software maker's stock valued at $882,655,000 after acquiring an additional 601,834 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after acquiring an additional 429,955 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent research reports. KeyCorp boosted their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Needham & Company LLC boosted their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $364.33.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded down $1.43 during trading on Wednesday, reaching $345.45. 1,779,287 shares of the stock traded hands, compared to its average volume of 1,995,380. 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 current ratio of 2.82 and a quick ratio of 2.67. The company has a 50-day moving average of $327.57 and a 200-day moving average of $295.14. The stock has a market capitalization of $94.13 billion, a P/E ratio of 93.37, a price-to-earnings-growth ratio of 4.55 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The business'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. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total value of $358,720.00. Following the transaction, the vice president directly owned 104,499 shares in the company, valued at $37,485,881.28. This represents a 0.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated 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 transaction, the director owned 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,207,671 in the last three months. 1.99% of the stock is currently owned by insiders.

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.