Cadence Design Systems, Inc. $CDNS Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP has reduced its stake in Cadence Design Systems by 36.1%, selling 63,678 shares and now holding 112,719 shares valued at approximately $28.7 million.
• Insider trading activity included VP Paul Cunningham selling 1,000 shares for nearly $344,000, while over the past 90 days, insiders have sold a total of 4,000 shares valued at over $1.3 million.
• Cadence Design Systems reported earnings of $1.65 per share for the last quarter, exceeding analyst estimates and reflecting a year-over-year revenue increase of 20.2%.

Woodline Partners LP lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,719 shares of the software maker's stock after selling 63,678 shares during the period. Woodline Partners LP's holdings in Cadence Design Systems were worth $28,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after buying an additional 676 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in Cadence Design Systems by 2.7% in the fourth quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock valued at $1,894,000 after buying an additional 163 shares in the last quarter. Focus Partners Wealth increased its holdings in Cadence Design Systems by 141.0% in the fourth quarter. Focus Partners Wealth now owns 38,784 shares of the software maker's stock valued at $11,656,000 after buying an additional 22,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cadence Design Systems by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 323,107 shares of the software maker's stock valued at $97,092,000 after buying an additional 12,991 shares in the last quarter. Finally, Maytus Capital Management LLC purchased a new position in Cadence Design Systems in the fourth quarter valued at $4,957,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS traded up $4.30 on Monday, reaching $347.78. 454,809 shares of the company's stock were exchanged, compared to its average volume of 2,005,191. The stock has a market cap of $94.77 billion, a PE ratio of 94.06, a P/E/G ratio of 4.50 and a beta of 1.00. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The stock's fifty day moving average price is $342.75 and its 200-day moving average price is $303.02. 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 for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion for 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%. Cadence Design Systems's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business 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. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CDNS shares. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Needham & Company LLC lifted their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Loop Capital boosted their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were 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 in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president 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. Insiders sold a total of 3,180 shares of company stock worth $1,069,232 over the last quarter. 1.99% of the stock is currently owned by company insiders.

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.