Walter Public Investments Inc. Sells 10,015 Shares of Cadence Design Systems, Inc. $CDNS

Walter Public Investments Inc. lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 59.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,824 shares of the software maker’s stock after selling 10,015 shares during the quarter. Walter Public Investments Inc.’s holdings in Cadence Design Systems were worth $2,253,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Bryn Mawr Trust Advisors LLC increased its position in shares of Cadence Design Systems by 3.2% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 1,015 shares of the software maker’s stock valued at $335,000 after acquiring an additional 31 shares during the last quarter. 71 West Capital Partners lifted its holdings in shares of Cadence Design Systems by 1.2% in the 3rd quarter. 71 West Capital Partners now owns 2,612 shares of the software maker’s stock worth $862,000 after acquiring an additional 31 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Cadence Design Systems by 32.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after acquiring an additional 32 shares during the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Cadence Design Systems by 0.4% in the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 32 shares during the last quarter. Finally, Heritage Family Offices LLP boosted its position in shares of Cadence Design Systems by 5.3% during the 3rd quarter. Heritage Family Offices LLP now owns 636 shares of the software maker’s stock worth $210,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total transaction of $554,240.00. Following the sale, the vice president directly owned 121,793 shares of the company’s stock, valued at $33,751,276.16. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita Brennan sold 180 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $285.51, for a total transaction of $51,391.80. Following the sale, the director owned 7,824 shares in the company, valued at approximately $2,233,830.24. This trade represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 11,361 shares of company stock worth $3,648,078. 0.49% of the stock is currently owned by company insiders.

More Cadence Design Systems News

Investors following CDNS have been watching these news items:

• Neutral Sentiment: Analyst coverage remains broadly favorable: the cited consensus is “Moderate Buy,” with an average target of about $410. This is supportive background, rather than a clearly new rating catalyst. Article: Wall Street Analysts Think Cadence Is a Good Investment: Is It?
• Negative Sentiment: A recent article argues CDNS could be overvalued despite the new AI-related design-platform news. With the stock’s valuation elevated, investors may want evidence that new offerings can translate into sustained growth. Article: Cadence Design Systems Stock Could Be Overvalued On Fresh AI Design Platform News
• Negative Sentiment: VP Paul Scannell sold 2,401 shares, reducing his holding by about 8%. The transaction was made under a pre-arranged Rule 10b5-1 plan, which may lessen its significance as a bearish signal. Article: Cadence Design Systems VP Sells 2,401 Shares of Stock

Cadence Design Systems Stock Down 0.7%

Shares of NASDAQ:CDNS opened at $329.26 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.18. The firm has a market capitalization of $90.34 billion, a PE ratio of 53.15, a price-to-earnings-growth ratio of 3.14 and a beta of 1.10. The firm’s 50-day moving average is $319.93 and its two-hundred day moving average is $327.68. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 26th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a net margin of 22.51% and a return on equity of 26.56%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 22.0% on a year-over-year basis. Analysts predict that Cadence Design Systems, Inc. will post 6.71 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CDNS shares. FBN Securities initiated coverage on shares of Cadence Design Systems in a research report on Friday, September 11th. They set an “outperform” rating and a $375.00 price objective for the company. Needham & Company LLC boosted their target price on Cadence Design Systems from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 5th. Piper Sandler raised their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Cadence Design Systems from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $410.05.

Cadence Design Systems Profile

Cadence Design Systems, Inc. develops software, hardware and intellectual property used to design and verify semiconductors and electronic systems. Its electronic design automation (EDA) tools help customers plan, build, test and analyze complex chips and circuit boards. The company also offers semiconductor intellectual property and hardware platforms for design prototyping and verification, as well as software for system analysis, including computational fluid dynamics and electromagnetic simulation.