King Luther Capital Management Corp Has $36.81 Million Holdings in Cadence Design Systems, Inc. $CDNS

King Luther Capital Management Corp lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,448 shares of the software maker’s stock after selling 6,119 shares during the quarter. King Luther Capital Management Corp’s holdings in Cadence Design Systems were worth $36,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC grew its holdings in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares during the period. Concurrent Investment Advisors LLC increased its holdings in Cadence Design Systems by 11.3% in the first quarter. Concurrent Investment Advisors LLC now owns 1,117 shares of the software maker’s stock valued at $284,000 after purchasing an additional 113 shares during the last quarter. Allworth Financial LP lifted its stake in Cadence Design Systems by 21.9% in the first quarter. Allworth Financial LP now owns 1,734 shares of the software maker’s stock valued at $489,000 after buying an additional 312 shares during the period. Alps Advisors Inc. boosted its holdings in Cadence Design Systems by 59.6% during the first quarter. Alps Advisors Inc. now owns 4,860 shares of the software maker’s stock worth $1,236,000 after buying an additional 1,814 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Cadence Design Systems by 11.8% in the 1st quarter. Cerity Partners LLC now owns 18,785 shares of the software maker’s stock valued at $4,777,000 after acquiring an additional 1,987 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the sale, the vice president owned 98,067 shares in the company, valued at $33,368,277.42. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,230 shares of company stock worth $5,530,682. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $325.05 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. The firm has a market cap of $88.48 billion, a price-to-earnings ratio of 83.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The stock’s 50-day moving average is $344.35 and its 200-day moving average is $328.44. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CDNS shares. Oppenheimer boosted their price objective on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 28th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Rosenblatt Securities lifted their target price on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. BNP Paribas initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Finally, Mizuho raised their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.00.

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.