6,500 Shares in Cadence Design Systems, Inc. $CDNS Bought by Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,500 shares of the software maker’s stock, valued at approximately $2,003,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Cadence Design Systems by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock valued at $8,195,515,000 after purchasing an additional 256,719 shares in the last quarter. State Street Corp raised its holdings in Cadence Design Systems by 1.4% in the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after buying an additional 172,551 shares during the period. Jennison Associates LLC lifted its position in Cadence Design Systems by 3.0% during the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after buying an additional 273,149 shares in the last quarter. Geode Capital Management LLC grew its stake in Cadence Design Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after buying an additional 77,478 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cadence Design Systems by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after acquiring an additional 312,757 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $337.29 on Tuesday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a market cap of $91.81 billion, a P/E ratio of 86.93, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The stock has a 50 day moving average of $328.23 and a 200-day moving average of $330.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results 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. 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 analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $1.64 earnings per share. The firm’s quarterly revenue 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. On average, analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wolfe Research restated an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Rosenblatt Securities increased their target price 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. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Citigroup started coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $379.11.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of the company’s stock in a transaction that occurred 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 owned 195,844 shares in the company, valued at $64,197,663.20. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 16,230 shares of company stock worth $5,499,372. Company insiders own 0.37% 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.