Ieq Capital LLC Has $2.21 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Ieq Capital LLC has reduced its stake in Cadence Design Systems, Inc. by 50.2%, selling 8,746 shares and now holds 8,669 shares valued at approximately $2.2 million.
• Institutional ownership is significant, with 84.85% of the stock currently owned by institutional investors and hedge funds, indicating strong investor interest.
• Analysts have diverse opinions on Cadence Design Systems, with 12 buy ratings and an average price target of $364.33, despite a recent downgrade to a "hold" rating from Wall Street Zen.

Ieq Capital LLC cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 50.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,669 shares of the software maker's stock after selling 8,746 shares during the quarter. Ieq Capital LLC's holdings in Cadence Design Systems were worth $2,205,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CDNS. GAMMA Investing LLC lifted its stake in Cadence Design Systems by 31,049.1% during 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 in the last quarter. Nuveen LLC purchased a new stake in Cadence Design Systems during the first quarter valued at about $289,744,000. Jennison Associates LLC lifted its stake in 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 buying an additional 1,054,702 shares in the last quarter. Vanguard Group Inc. lifted its stake in 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 buying an additional 429,955 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cadence Design Systems by 10.7% in the fourth 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 worth $1,326,912,000 after purchasing an additional 427,418 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CDNS shares. The Goldman Sachs Group started 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. Loop Capital increased their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 30th. Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday, August 31st. Finally, Mizuho increased their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Cadence Design Systems Stock Up 0.5%

CDNS traded up $1.68 during midday trading on Friday, hitting $351.01. 1,115,780 shares of the company's stock traded hands, compared to its average volume of 1,252,134. The company has a market cap of $95.65 billion, a PE ratio of 94.87, a price-to-earnings-growth ratio of 4.60 and a beta of 1.00. The stock's fifty day simple moving average is $339.27 and its 200-day simple moving average is $299.35. 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, Inc. has a one year low of $221.56 and a one year high of $376.45.

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 for the quarter, beating 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 quarter last year, the firm earned $1.28 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred 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 transaction, the director owned 8,010 shares in the company, 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. In the last quarter, insiders have sold 4,180 shares of company stock worth $1,365,740. Corporate insiders own 1.99% of the company's stock.

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.