Manning & Napier Advisors LLC Decreases Stock Holdings in Cadence Design Systems, Inc. $CDNS

Manning & Napier Advisors LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 719,318 shares of the software maker’s stock after selling 16,970 shares during the period. Cadence Design Systems accounts for approximately 3.2% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Manning & Napier Advisors LLC owned approximately 0.26% of Cadence Design Systems worth $252,668,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, December 10th. The shares were 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 of the company’s stock, valued at $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. The trade was a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 62,025 shares of company stock worth $20,369,946. 0.37% of the stock is currently owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $323.06 on Wednesday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market capitalization of $87.94 billion, a price-to-earnings ratio of 83.26, a PEG ratio of 3.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The business has a 50-day moving average of $318.09 and a 200-day moving average of $333.58.

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, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business 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 predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CDNS shares. BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Robert W. Baird raised their price objective on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Fourteen equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.72.

Cadence Design Systems Company 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.