Vanguard Group Inc. Increases Stock Holdings in Cadence Design Systems, Inc. $CDNS

Vanguard Group Inc. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,595,861 shares of the software maker’s stock after buying an additional 256,719 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Cadence Design Systems worth $8,195,515,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems during the 1st quarter valued at about $25,000. Saudi Central Bank purchased a new stake in Cadence Design Systems in the first quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter worth approximately $31,000. E Fund Management Hong Kong Co. Ltd. increased its position in 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 worth $39,000 after purchasing an additional 37 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Cadence Design Systems during the second quarter worth approximately $40,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 2.6%

Shares of CDNS opened at $303.21 on Wednesday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The stock’s 50-day moving average is $339.25 and its two-hundred day moving average is $329.89. 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 stock has a market cap of $82.53 billion, a PE ratio of 78.15, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $1.64 EPS. Cadence Design Systems’s quarterly revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction 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 transaction, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the sale, the chief executive officer directly owned 195,844 shares in the company, valued at $64,197,663.20. This trade represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,230 shares of company stock valued at $5,530,682 over the last ninety days. 1.99% of the stock is owned by company insiders.

Analyst Ratings Changes

CDNS has been the subject of several research reports. BNP Paribas initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Wells Fargo & Company boosted their price target 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. Wolfe Research restated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Rosenblatt Securities lifted their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.