Lazard Freres Gestion S.A.S. Lowers Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Lazard Freres Gestion S.A.S. reduced its stake in Cadence Design Systems by 19.4%, owning 11,200 shares valued at approximately $3.45 million after selling 2,700 shares in the second quarter.
• Multiple institutional investors have increased their positions in Cadence Design Systems, including Novem Group, which raised its stake by 30.3% in the first quarter.
• Cadence Design Systems reported earnings of $1.65 per share for the last quarter, exceeding expectations, with revenue up 20.2% year-over-year at $1.28 billion.

Lazard Freres Gestion S.A.S. cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 19.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,200 shares of the software maker's stock after selling 2,700 shares during the period. Lazard Freres Gestion S.A.S.'s holdings in Cadence Design Systems were worth $3,451,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Novem Group lifted its position in shares of Cadence Design Systems by 30.3% in the first quarter. Novem Group now owns 4,067 shares of the software maker's stock valued at $1,034,000 after acquiring an additional 945 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker's stock valued at $44,064,000 after acquiring an additional 14,022 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Cadence Design Systems by 19.9% in the first quarter. Brookstone Capital Management now owns 17,430 shares of the software maker's stock valued at $4,433,000 after acquiring an additional 2,898 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cadence Design Systems by 22.5% in the first quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker's stock valued at $1,218,000 after acquiring an additional 879 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Cadence Design Systems by 2.2% in the first quarter. Amalgamated Bank now owns 58,225 shares of the software maker's stock valued at $14,808,000 after acquiring an additional 1,228 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CDNS shares. Wells Fargo & Company increased their price target on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. KeyCorp upped their target price on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. BNP Paribas started coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They issued an "outperform" rating and a $400.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $369.71.

Insider Transactions at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the sale, the vice president owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock valued at $3,729,852 in the last ninety days. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $337.27 on Friday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The company has a market capitalization of $91.90 billion, a PE ratio of 91.15, a P/E/G ratio of 4.33 and a beta of 0.99. The company has a fifty day moving average of $347.09 and a two-hundred day moving average of $321.29. 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 posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. 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, analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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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