Allspring Global Investments Holdings LLC Boosts Holdings in Cadence Design Systems, Inc. $CDNS

Allspring Global Investments Holdings LLC grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 617,715 shares of the software maker’s stock after purchasing an additional 15,943 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.23% of Cadence Design Systems worth $217,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter worth about $31,000. Robbins Farley acquired a new stake in Cadence Design Systems in the 3rd quarter valued at about $35,000. Strategic Wealth Investment Group LLC purchased a new position in Cadence Design Systems in the 2nd quarter worth approximately $32,000. Promus Capital LLC acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in shares of Cadence Design Systems in the third quarter valued at approximately $39,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $315.60 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. The company has a market cap of $85.91 billion, a P/E ratio of 81.34, a P/E/G ratio of 4.09 and a beta of 1.05. The stock has a 50-day moving average of $322.57 and a two-hundred day moving average of $332.30. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-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 for the quarter, topping the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. 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. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wolfe Research reissued an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a report on Monday, December 22nd. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the completion of the transaction, the director directly owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the sale, the vice president directly owned 97,067 shares in the company, valued at approximately $30,347,026.88. This trade represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,025 shares of company stock valued at $20,054,246 in the last 90 days. Insiders own 0.37% of the company’s stock.

Cadence Design Systems Profile

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.