Zevenbergen Capital Investments LLC Sells 2,965 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Zevenbergen Capital Investments LLC has reduced its stake in Cadence Design Systems by 6.9%, selling 2,965 shares during the second quarter, leaving them with a total of 40,060 shares valued at approximately $12.34 million.
• Cadence Design Systems recently reported a quarterly earnings per share (EPS) of $1.65, exceeding the consensus estimate of $1.56, with revenues of $1.28 billion, showing a year-over-year increase of 20.2%.
• Wall Street analysts maintain an optimistic view, with multiple firms raising their price targets for Cadence Design Systems, resulting in an average target price of $364.33 and a rating of "Moderate Buy".

Zevenbergen Capital Investments LLC reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,060 shares of the software maker's stock after selling 2,965 shares during the quarter. Zevenbergen Capital Investments LLC's holdings in Cadence Design Systems were worth $12,344,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC bought a new position in Cadence Design Systems in the first quarter worth approximately $25,000. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems in the 1st quarter valued at about $25,000. Saudi Central Bank purchased a new position in shares of Cadence Design Systems in the 1st quarter valued at about $27,000. Valley National Advisers Inc. increased its stake in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after buying an additional 99 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of 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 purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS opened at $343.48 on Friday. The company has a 50-day moving average of $342.75 and a 200-day moving average of $302.64. The company has a market capitalization of $93.59 billion, a P/E ratio of 92.83, a PEG ratio of 4.65 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. 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 earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $1.28 EPS. The company'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. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDNS. KeyCorp upped their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. Loop Capital lifted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 30th. Twelve equities research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $364.33.

Insider Transactions at Cadence Design Systems

In related news, 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 sale, the vice president owned 102,499 shares of the company's stock, valued at $35,254,531.05. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,180 shares of company stock valued at $1,069,232. Insiders own 1.99% of the company's stock.

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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