Cadence Design Systems, Inc. $CDNS Holdings Cut by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its stake in Cadence Design Systems by 35%, now holding approximately 924,379 shares valued at $235 million.
• Cadence Design Systems reported an earnings per share (EPS) of $1.65 for the most recent quarter, exceeding analyst estimates by $0.09, with revenue up 20.2% year-over-year.
• Despite the stake reduction by Voya, institutional ownership remains high at 84.85% of the stock, indicating strong investor interest in Cadence Design Systems.

Voya Investment Management LLC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 35.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 924,379 shares of the software maker's stock after selling 498,219 shares during the quarter. Voya Investment Management LLC owned 0.34% of Cadence Design Systems worth $235,097,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Smallwood Wealth Investment Management LLC bought a new position in Cadence Design Systems in the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new position in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. Valley National Advisers Inc. boosted its holdings in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after acquiring an additional 99 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Cadence Design Systems by 36.5% during the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock valued at $44,000 after acquiring an additional 46 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Down 3.2%

CDNS traded down $11.22 during trading on Friday, reaching $343.48. The company had a trading volume of 1,616,772 shares, compared to its average volume of 1,599,122. The firm's 50-day simple moving average is $342.75 and its 200 day simple moving average is $303.02. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The company has a market cap of $93.59 billion, a price-to-earnings ratio of 92.83, a PEG ratio of 4.50 and a beta of 1.00. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,180 shares of company stock worth $1,069,232. Corporate insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CDNS shares. Mizuho upped their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Stifel Nicolaus upped their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $364.33.

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.