United Asset Strategies Inc. Decreases Stake in Cadence Design Systems, Inc. $CDNS

United Asset Strategies Inc. lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,823 shares of the software maker’s stock after selling 1,566 shares during the quarter. United Asset Strategies Inc.’s holdings in Cadence Design Systems were worth $1,694,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the second quarter valued at $31,000. Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems during the second quarter valued at $32,000. Promus Capital LLC bought a new position in Cadence Design Systems during the second quarter valued at $33,000. Robbins Farley purchased a new position in shares of Cadence Design Systems in the 3rd quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Cadence Design Systems by 41.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after buying an additional 37 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director directly owned 7,650 shares in the company, valued at $2,581,722. This represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,025 shares of company stock worth $20,369,946 over the last 90 days. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

CDNS opened at $320.54 on Thursday. The business has a fifty day moving average of $319.07 and a 200 day moving average of $332.66. The stock has a market cap of $87.25 billion, a P/E ratio of 82.61, a PEG ratio of 3.51 and a beta of 1.02. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. 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 released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate 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%.The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $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, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CDNS. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Wells Fargo & Company lifted their target price on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Rosenblatt Securities boosted their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, Citigroup initiated coverage on Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Profile

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.