Cadence Design Systems, Inc. $CDNS Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in Cadence Design Systems by 22.8%, now holding 25,034 shares valued at approximately $6.48 million.
• Insider trading activity included Paul Cunningham selling 1,000 shares for about $358,720, reducing his position by 0.95%.
• Cadence Design Systems reported quarterly earnings of $1.65 EPS, exceeding expectations, with a revenue increase of 20.2% year-over-year.

Ethic Inc. lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 22.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,034 shares of the software maker's stock after selling 7,412 shares during the period. Ethic Inc.'s holdings in Cadence Design Systems were worth $6,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $25,000. Costello Asset Management INC purchased a new position in Cadence Design Systems in the 1st quarter valued at approximately $25,000. Valley National Advisers Inc. boosted its position in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after buying an additional 99 shares during the period. Ancora Advisors LLC boosted its position in Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock valued at $36,000 after buying an additional 112 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in Cadence Design Systems by 36.5% in the 1st quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock valued at $44,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the transaction, the director directly owned 8,010 shares in the company, valued at $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president owned 104,499 shares in the company, valued at approximately $37,485,881.28. This trade represents a 0.95% 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 over the last quarter. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 0.4%

NASDAQ:CDNS traded down $1.3930 during midday trading on Wednesday, hitting $345.4870. 1,122,945 shares of the company were exchanged, compared to its average volume of 2,044,126. The company has a fifty day simple moving average of $326.80 and a 200 day simple moving average of $294.79. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $94.14 billion, a PE ratio of 93.49, a price-to-earnings-growth ratio of 4.67 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly 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 net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business earned $1.28 EPS. Cadence Design Systems'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. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Piper Sandler reissued a "neutral" rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target for the company. Finally, Bank of America raised their price target on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $364.33.

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.