Amundi Grows Stock Position in Cadence Design Systems, Inc. $CDNS

Amundi increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,689,596 shares of the software maker’s stock after buying an additional 252,130 shares during the quarter. Amundi owned about 0.62% of Cadence Design Systems worth $513,697,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CDNS. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems during the 1st quarter worth about $25,000. Saudi Central Bank bought a new stake in Cadence Design Systems in the first quarter worth about $27,000. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems during the second quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after buying an additional 37 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Cadence Design Systems in the second quarter worth approximately $40,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Rosenblatt Securities boosted 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. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a research note on Monday. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. 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 an average rating of “Moderate Buy” and a consensus price target of $379.11.

Cadence Design Systems Stock Up 0.4%

Cadence Design Systems stock opened at $337.30 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm has a market cap of $91.81 billion, a P/E ratio of 86.93, a P/E/G ratio of 4.32 and a beta of 1.05. The business has a fifty day moving average of $328.71 and a two-hundred day moving average of $329.59. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion during 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%.The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. 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. On average, analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the completion of the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at approximately $64,197,663.20. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,230 shares of company stock valued at $5,499,372. Company insiders own 1.99% of the company’s stock.

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.