Ninety One UK Ltd Sells 8,921 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Ninety One UK Ltd has reduced its holdings in Cadence Design Systems by 4.6%, selling 8,921 shares and owning approximately 0.07% of the company, valued at $57.5 million.
• Wall Street analysts are optimistic about Cadence Design Systems, with a consensus 'Moderate Buy' rating and price targets ranging from $380 to $405 as several firms upgraded their forecasts.
• Insider transactions have seen company executives sell shares recently, including a director who sold 180 shares for $60,211.80, indicating ongoing management adjustments within the company.

Ninety One UK Ltd decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 186,605 shares of the software maker's stock after selling 8,921 shares during the period. Ninety One UK Ltd owned approximately 0.07% of Cadence Design Systems worth $57,502,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDNS. Smallwood Wealth Investment Management LLC acquired a new position in Cadence Design Systems during the first quarter worth about $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems during the 1st quarter worth approximately $25,000. Saudi Central Bank acquired a new position in Cadence Design Systems during the 1st quarter worth approximately $27,000. Valley National Advisers Inc. lifted its stake 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 purchasing an additional 99 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Cadence Design Systems by 36.5% in the first 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 in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of research reports. 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 price target for the company. KeyCorp upped their target price on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Wells Fargo & Company lifted 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. Loop Capital boosted their price target on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Robert W. Baird raised their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued 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 target price of $364.33.

Insiders Place Their Bets

In other news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company's stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the sale, the vice president owned 102,499 shares in the company, valued at approximately $35,254,531.05. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,180 shares of company stock valued at $762,882 in the last three months. 0.37% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Shares of CDNS opened at $351.26 on Wednesday. The business has a 50-day moving average of $351.77 and a 200-day moving average of $312.18. 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 company has a market capitalization of $95.71 billion, a price-to-earnings ratio of 94.94, a price-to-earnings-growth ratio of 4.57 and a beta of 1.00. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating 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 business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The firm's 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. As a group, equities research analysts anticipate 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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