Cadence Design Systems, Inc. $CDNS Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,250 shares of the software maker’s stock after purchasing an additional 3,783 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cadence Design Systems were worth $29,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNS. Mirae Asset Global Investments Co. Ltd. increased its stake in Cadence Design Systems by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after buying an additional 14,022 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Cadence Design Systems in the first quarter worth approximately $12,031,000. Charles Schwab Investment Management Inc. increased its position in shares of Cadence Design Systems by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,779,848 shares of the software maker’s stock worth $452,669,000 after purchasing an additional 73,719 shares in the last quarter. Arizona State Retirement System raised its stake in Cadence Design Systems by 1.8% in the 1st quarter. Arizona State Retirement System now owns 80,333 shares of the software maker’s stock valued at $20,431,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Cadence Design Systems in the 1st quarter valued at $289,744,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $324.45 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. The company has a market capitalization of $88.32 billion, a PE ratio of 83.62, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The firm’s 50-day moving average is $344.86 and its two-hundred day moving average is $327.44. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during 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 business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $340.26, for a total value of $340,260.00. Following the transaction, the vice president owned 98,067 shares of the company’s stock, valued at $33,368,277.42. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,680 shares of company stock worth $3,711,392 over the last quarter. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CDNS. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a “buy” rating and a $380.00 target price for the company. Loop Capital upped their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 30th. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Finally, BNP Paribas initiated coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $376.00.

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.