Vontobel Holding Ltd. Trims Holdings in Cadence Design Systems, Inc. $CDNS

Vontobel Holding Ltd. reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 224,063 shares of the software maker’s stock after selling 2,507 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cadence Design Systems were worth $78,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Saudi Central Bank purchased a new position in shares of Cadence Design Systems during the first quarter valued at approximately $27,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $31,000. Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $32,000. Promus Capital LLC acquired a new position in Cadence Design Systems in the 2nd quarter valued at $33,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Cadence Design Systems by 41.1% during the 2nd 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDNS. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. raised their price target on Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. BNP Paribas initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday, December 15th. Finally, Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a report on Monday, December 1st. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.11.

Insiders Place Their Bets

In related news, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the transaction, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. The trade was a 21.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John M. Wall sold 27,805 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the sale, the chief financial officer owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 69,525 shares of company stock worth $23,021,216. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $316.93 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The firm has a market capitalization of $86.27 billion, a P/E ratio of 81.68, a P/E/G ratio of 4.08 and a beta of 1.05. The business’s 50-day simple moving average is $323.57 and its 200-day simple moving average is $331.85.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. 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 posted $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. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

About Cadence Design Systems

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.