Andra AP fonden Lowers Holdings in Cadence Design Systems, Inc. $CDNS

Andra AP fonden reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 50.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,915 shares of the software maker’s stock after selling 5,100 shares during the period. Andra AP fonden’s holdings in Cadence Design Systems were worth $1,515,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CDNS. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after buying an additional 429,955 shares during the last quarter. Jennison Associates LLC lifted its holdings in Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after acquiring an additional 273,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cadence Design Systems by 7.1% in the 1st 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. Invesco Ltd. grew its stake in shares of Cadence Design Systems by 14.0% during the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after purchasing an additional 296,983 shares during the period. Finally, Swedbank AB grew its stake in shares of Cadence Design Systems by 3.4% during the 2nd quarter. Swedbank AB now owns 1,979,920 shares of the software maker’s stock worth $610,112,000 after purchasing an additional 64,514 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 0.2%

Shares of CDNS opened at $325.05 on Friday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The stock has a market cap of $88.48 billion, a PE ratio of 83.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The firm’s fifty day moving average is $344.35 and its two-hundred day moving average is $328.44. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

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

Analysts Set New Price Targets

CDNS has been the subject of several analyst reports. Wolfe Research reiterated an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Loop Capital upped their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Robert W. Baird increased their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus lifted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total value of $1,819,290.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $64,197,663.20. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,230 shares of company stock valued at $5,530,682. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.