PGGM Investments Sells 13,705 Shares of Cadence Design Systems, Inc. $CDNS

PGGM Investments cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 158,267 shares of the software maker’s stock after selling 13,705 shares during the quarter. PGGM Investments’ holdings in Cadence Design Systems were worth $55,593,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.0% in the second quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after purchasing an additional 256,719 shares during the period. 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 worth $3,795,972,000 after buying an additional 172,551 shares in the last quarter. Jennison Associates LLC increased its stake in Cadence Design Systems by 3.0% in the 2nd 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 valued at $1,952,771,000 after acquiring an additional 77,478 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $1,190,618,000. 84.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Rosenblatt Securities boosted their price target on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 target price for the company. Finally, Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a research note on Monday, December 1st. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $380.72.

Cadence Design Systems Price Performance

CDNS stock opened at $320.47 on Friday. The firm has a market cap of $87.23 billion, a P/E ratio of 82.59, a P/E/G ratio of 3.50 and a beta of 1.02. The firm’s fifty day moving average is $317.72 and its 200 day moving average is $333.34. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter 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. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’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 value of $60,746.40. Following the completion of the sale, the director owned 7,650 shares in the company, valued at approximately $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $315.70, for a total value of $315,700.00. Following the sale, the vice president directly owned 96,067 shares of the company’s stock, valued at approximately $30,328,351.90. This trade represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,025 shares of company stock worth $20,369,946 over the last three months. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.