Cadence Design Systems, Inc. $CDNS Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 61.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 692,133 shares of the software maker’s stock after selling 1,101,702 shares during the period. Nordea Investment Management AB owned approximately 0.25% of Cadence Design Systems worth $241,111,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CDNS. Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after buying an additional 256,719 shares during the last quarter. State Street Corp grew its position in Cadence Design Systems by 1.4% during 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 acquiring an additional 172,551 shares during the period. Jennison Associates LLC increased its stake 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 worth $2,877,536,000 after acquiring an additional 273,149 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cadence Design Systems by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after purchasing an additional 77,478 shares during the period. Finally, Norges Bank acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $1,190,618,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BNP Paribas started coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. 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 price objective for the company. Rosenblatt Securities lifted their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $323.06 on Wednesday. The firm has a fifty day simple moving average of $318.09 and a 200-day simple moving average of $333.58. The company has a market capitalization of $87.94 billion, a PE ratio of 83.26, a price-to-earnings-growth ratio of 3.63 and a beta of 1.02. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month 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.

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

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the transaction, the vice president directly owned 97,067 shares in the company, valued at approximately $30,347,026.88. This represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the sale, the director directly owned 7,650 shares of the company’s stock, valued at $2,581,722. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,025 shares of company stock valued at $20,369,946 in the last three months. 0.37% of the stock is currently owned by company insiders.

Cadence Design Systems Company 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.