Meritage Portfolio Management Has $11.46 Million Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Meritage Portfolio Management reduced its stake in Cadence Design Systems by 5.2%, now holding approximately $11.46 million in shares after selling 2,027 shares during the second quarter.
• Cadence Design Systems reported $1.65 EPS for the last quarter, exceeding analysts' expectations by $0.09, with revenues of $1.28 billion, a year-over-year increase of 20.2%.
• Analysts generally rate Cadence Design Systems as a Moderate Buy, with a consensus target price of $368.53, indicating positive sentiment about the company's stock performance.

Meritage Portfolio Management decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 37,186 shares of the software maker's stock after selling 2,027 shares during the period. Meritage Portfolio Management's holdings in Cadence Design Systems were worth $11,459,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CDNS. Brighton Jones LLC increased its holdings in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after acquiring an additional 676 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Cadence Design Systems by 22.5% during the 1st 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 during the last quarter. CX Institutional increased its holdings in shares of Cadence Design Systems by 2.3% during the 1st quarter. CX Institutional now owns 1,833 shares of the software maker's stock valued at $466,000 after acquiring an additional 42 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in shares of Cadence Design Systems by 54.9% during the 1st quarter. Simon Quick Advisors LLC now owns 1,911 shares of the software maker's stock valued at $486,000 after acquiring an additional 677 shares during the last quarter. Finally, Thomasville National Bank acquired a new stake in Cadence Design Systems in the 1st quarter valued at approximately $485,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $327.00 on Friday. 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 firm has a market capitalization of $89.10 billion, a PE ratio of 88.38, a PEG ratio of 4.29 and a beta of 0.99. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The business's 50 day moving average is $351.68 and its 200-day moving average is $316.92.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted 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. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the transaction, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the transaction, the chief financial officer owned 70,715 shares of the company's stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock worth $3,729,852 in the last 90 days. 1.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho raised their target price on Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Needham & Company LLC raised their target price 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, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadence Design Systems in a report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $368.53.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.