Amica Mutual Insurance Co. Takes $717,000 Position in Cadence Design Systems, Inc. $CDNS

Amica Mutual Insurance Co. bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,326 shares of the software maker’s stock, valued at approximately $717,000.

Several other hedge funds have also recently modified their holdings of CDNS. Nuveen LLC purchased a new stake in Cadence Design Systems during the 1st quarter worth approximately $289,744,000. Jennison Associates LLC lifted its position in shares of Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock valued at $2,305,489,000 after acquiring an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Cadence Design Systems by 466.4% in the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after acquiring an additional 647,931 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after purchasing an additional 429,955 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cadence Design Systems by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after purchasing an additional 312,757 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 0.2%

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

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CDNS shares. Rosenblatt Securities raised their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Oppenheimer increased their target price on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Finally, Mizuho raised their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated 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 directly owned 98,067 shares in the company, valued at $33,368,277.42. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Wall sold 7,500 shares of the business’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 directly owned 70,715 shares in the company, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,230 shares of company stock valued at $5,530,682 over the last 90 days. Company insiders own 1.99% of the company’s stock.

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.