SG Americas Securities LLC Has $2.13 Million Holdings in Cadence Design Systems, Inc. $CDNS

SG Americas Securities LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 95.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,069 shares of the software maker’s stock after selling 142,324 shares during the quarter. SG Americas Securities LLC’s holdings in Cadence Design Systems were worth $2,132,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CDNS. Brighton Jones LLC boosted its position in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after purchasing an additional 80 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Cadence Design Systems by 9.1% in the 2nd quarter. Parallel Advisors LLC now owns 8,220 shares of the software maker’s stock valued at $2,533,000 after purchasing an additional 686 shares in the last quarter. Czech National Bank increased its stake in shares of Cadence Design Systems by 5.9% in the 2nd quarter. Czech National Bank now owns 66,741 shares of the software maker’s stock valued at $20,566,000 after purchasing an additional 3,747 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in shares of Cadence Design Systems by 73.5% during the 2nd quarter. Fiduciary Alliance LLC now owns 1,921 shares of the software maker’s stock worth $592,000 after buying an additional 814 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDNS has been the topic of several research analyst reports. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective on the stock in a research note on Monday, December 1st. Citigroup started coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a report on Monday, December 22nd. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $380.72.

Cadence Design Systems Price Performance

CDNS stock opened at $313.17 on Thursday. The company has a market capitalization of $85.24 billion, a P/E ratio of 80.71, a PEG ratio of 3.61 and a beta of 1.02. The company has a fifty day moving average price of $317.80 and a 200-day moving average price of $333.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the completion of the transaction, the director directly owned 7,650 shares in the company, valued at $2,581,722. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the sale, the chief executive officer owned 195,844 shares in the company, valued at $66,586,960. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 62,025 shares of company stock valued at $20,369,946. Corporate insiders own 1.99% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.