Bailard Inc. Grows Stock Holdings in Cadence Design Systems, Inc. $CDNS

Bailard Inc. grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,579 shares of the software maker’s stock after acquiring an additional 2,060 shares during the period. Bailard Inc.’s holdings in Cadence Design Systems were worth $6,526,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Cadence Design Systems during the 2nd quarter valued at $1,190,618,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after purchasing an additional 622,934 shares in the last quarter. Scge Management L.P. purchased a new position in shares of Cadence Design Systems during the second quarter valued at about $187,663,000. Finally, Bain Capital Public Equity Management II LLC bought a new position in Cadence Design Systems in the second quarter worth about $130,534,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Wall sold 27,805 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the sale, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at $22,286,201.49. The trade was a 28.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,025 shares of company stock valued at $20,369,946 over the last three months. 1.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upped their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research note on Monday, December 1st. Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.59.

Cadence Design Systems Trading Up 2.2%

NASDAQ:CDNS opened at $313.84 on Thursday. 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 $85.43 billion, a price-to-earnings ratio of 80.89, a PEG ratio of 3.43 and a beta of 1.02. The company’s 50 day moving average price is $317.08 and its 200-day moving average price is $333.37. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm 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, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.