Vident Advisory LLC Has $3.63 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Vident Advisory LLC has reduced its stake in Cadence Design Systems, Inc. by 56.4%, holding 14,259 shares valued at approximately $3.63 million as of the latest SEC filing.
• Significant buying activity was noted, with GAMMA Investing LLC increasing its position by over 31,000% and now owning over 1.2 million shares worth approximately $309.8 million.
• Wall Street analysts express mixed sentiments; while KeyCorp increased their price target to $405, others like Rosenblatt Securities maintain a neutral rating with a target of $300.

Vident Advisory LLC trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 56.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,259 shares of the software maker's stock after selling 18,450 shares during the period. Vident Advisory LLC's holdings in Cadence Design Systems were worth $3,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CDNS. GAMMA Investing LLC raised its position 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 during the period. Nuveen LLC acquired a new position in Cadence Design Systems during the first quarter valued at $289,744,000. Jennison Associates LLC raised its position 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 during the period. Vanguard Group Inc. raised its position 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cadence Design Systems by 10.7% during 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 valued at $1,326,912,000 after buying an additional 427,418 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the sale, the director owned 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% 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 stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $358.72, for a total value of $358,720.00. Following the sale, the vice president owned 104,499 shares of the company's stock, valued at approximately $37,485,881.28. The trade was a 0.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,830 shares of company stock valued at $1,207,671. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CDNS shares. KeyCorp upped their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research 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 research report on Friday, July 25th. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday. Stifel Nicolaus upped their target price on Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems 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 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 $364.33.

Cadence Design Systems Stock Performance

CDNS opened at $350.43 on Friday. The company has a market cap of $95.49 billion, a PE ratio of 94.71, a price-to-earnings-growth ratio of 4.60 and a beta of 0.97. The stock has a 50-day moving average of $334.39 and a 200-day moving average of $297.41. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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 company 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%.The firm's revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $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. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems Company 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.

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