iSAM Funds UK Ltd Buys New Stake in Cadence Design Systems, Inc. $CDNS

iSAM Funds UK Ltd purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, Holdings Channel.com reports. The firm purchased 4,249 shares of the software maker’s stock, valued at approximately $1,309,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth about $1,190,618,000. Assenagon Asset Management S.A. increased its stake in Cadence Design Systems by 466.4% in the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after purchasing an additional 647,931 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in Cadence Design Systems in the second quarter valued at approximately $130,534,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cadence Design Systems by 7.1% during 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 purchasing an additional 312,757 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Cadence Design Systems by 686.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock worth $108,103,000 after buying an additional 306,198 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, December 1st. The shares were sold at an average price of $312.64, for a total value of $312,640.00. Following the transaction, the vice president directly owned 97,067 shares in the company, valued at $30,347,026.88. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,050 shares of company stock valued at $12,239,160 over the last three months. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Citigroup assumed coverage on Cadence Design Systems in a research report on Monday, November 24th. They set a “buy” rating and a $385.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities raised their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $335.07 on Wednesday. The firm has a market cap of $91.21 billion, a P/E ratio of 86.36, a P/E/G ratio of 4.34 and a beta of 1.05. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The business’s 50-day moving average price is $327.91 and its 200 day moving average price is $330.14. 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 posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $1.64 EPS. The firm’s 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 and its Q4 2025 guidance at 1.880-1.940 EPS. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.