Yousif Capital Management LLC Reduces Stock Holdings in Cadence Design Systems, Inc. $CDNS

Yousif Capital Management LLC reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 32,410 shares of the software maker’s stock after selling 483 shares during the period. Yousif Capital Management LLC’s holdings in Cadence Design Systems were worth $9,987,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $25,000. Costello Asset Management INC purchased a new stake in Cadence Design Systems during the 1st quarter worth approximately $25,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems during the 2nd quarter worth approximately $31,000. Saudi Central Bank purchased a new stake in Cadence Design Systems during the 1st quarter worth approximately $27,000. Finally, Valley National Advisers Inc. increased its holdings in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after purchasing an additional 99 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the sale, the vice president owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the sale, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. The trade was a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock worth $3,729,852 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CDNS. JPMorgan Chase & Co. lifted their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a “neutral” rating and set a $300.00 price objective on shares of Cadence Design Systems in a report on Friday, July 25th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Needham & Company LLC lifted their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Piper Sandler restated a “neutral” rating and set a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $368.53.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $332.23 on Tuesday. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $90.53 billion, a price-to-earnings ratio of 89.79, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99. The business has a 50 day simple moving average of $351.02 and a 200-day simple moving average of $317.83.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. 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 research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems Company Profile

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.