Dimensional Fund Advisors LP Sells 16,088 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Dimensional Fund Advisors LP reduced its stake in Cadence Design Systems by 2.8%, now holding 567,187 shares valued at approximately $144 million.
• A range of analysts have given Cadence Design Systems a consensus rating of "Moderate Buy" with price targets reaching as high as $400 per share.
• Insider transactions revealed that Director Ita M. Brennan and VP Paul Cunningham have recently sold shares, indicating a total insider sale of 3,830 shares in the past three months.

Dimensional Fund Advisors LP decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 567,187 shares of the software maker's stock after selling 16,088 shares during the period. Dimensional Fund Advisors LP owned 0.21% of Cadence Design Systems worth $144,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC lifted its position in Cadence Design Systems by 2.8% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker's stock valued at $309,000 after purchasing an additional 33 shares during the period. Empower Advisory Group LLC lifted its position in Cadence Design Systems by 4.1% during the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock valued at $232,000 after purchasing an additional 36 shares during the period. Principal Street Partners LLC lifted its position in Cadence Design Systems by 2.6% during the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after purchasing an additional 37 shares during the period. Greenleaf Trust lifted its position in Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock valued at $1,476,000 after purchasing an additional 39 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Cadence Design Systems by 3.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker's stock valued at $285,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Ratings Changes

CDNS has been the topic of a number of analyst reports. Needham & Company LLC increased 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. Stifel Nicolaus increased their target price on Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho increased their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm'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 completion of the transaction, the vice president owned 104,499 shares in the company, valued at $37,485,881.28. This trade represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the sale, the director owned 8,010 shares of the company's stock, valued at approximately $2,435,040. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,830 shares of company stock worth $1,207,671 over the last ninety days. 0.37% of the stock is owned by insiders.

Cadence Design Systems Stock Performance

CDNS stock traded down $3.8240 during midday trading on Monday, reaching $345.8060. 478,350 shares of the company were exchanged, compared to its average volume of 2,027,109. 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 business has a 50-day moving average price of $329.35 and a two-hundred day moving average price of $295.73. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm has a market capitalization of $94.23 billion, a price-to-earnings ratio of 93.48, a price-to-earnings-growth ratio of 4.59 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business's quarterly 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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.