QRG Capital Management Inc. Has $15.21 Million Position in Cadence Design Systems, Inc. $CDNS

QRG Capital Management Inc. lowered its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 34.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,352 shares of the software maker’s stock after selling 26,258 shares during the quarter. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $15,208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new stake in Cadence Design Systems in the 1st quarter valued at approximately $25,000. Costello Asset Management INC acquired a new stake in Cadence Design Systems in the 1st quarter valued at approximately $25,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $31,000. Saudi Central Bank acquired a new stake in Cadence Design Systems in the 1st quarter valued at approximately $27,000. Finally, Valley National Advisers Inc. raised its position in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $347.27 on Friday. The stock has a market capitalization of $94.63 billion, a PE ratio of 93.86, a P/E/G ratio of 4.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The business has a fifty day moving average price of $353.04 and a two-hundred day moving average price of $314.12. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock valued at $3,729,852 in the last three months. Corporate insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDNS. Mizuho lifted their target price on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Piper Sandler reaffirmed a “neutral” rating and set a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research report on Wednesday, July 30th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $300.00 price target on shares of Cadence Design Systems in a research report on Friday, July 25th. Finally, Wells Fargo & Company boosted their price target on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $368.53.

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.