Swedbank AB Has $688.27 Million Position in Cadence Design Systems, Inc. $CDNS

Swedbank AB cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,959,444 shares of the software maker’s stock after selling 20,476 shares during the period. Cadence Design Systems accounts for 0.7% of Swedbank AB’s portfolio, making the stock its 25th largest holding. Swedbank AB owned 0.72% of Cadence Design Systems worth $688,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Cadence Design Systems by 60.1% during the 1st quarter. AlphaQuest LLC now owns 1,678 shares of the software maker’s stock worth $427,000 after acquiring an additional 630 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $431,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $7,012,000. Finally, J. Stern & Co. LLP raised its stake in Cadence Design Systems by 56.9% in the 1st quarter. J. Stern & Co. LLP now owns 13,408 shares of the software maker’s stock valued at $3,410,000 after acquiring an additional 4,865 shares during the period. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Rosenblatt Securities raised their target price 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Monday, December 15th. BNP Paribas began coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Finally, 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. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $316.93 on Wednesday. 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. The firm’s 50-day simple moving average is $323.57 and its 200 day simple moving average is $331.85. The firm has a market cap of $86.27 billion, a price-to-earnings ratio of 81.68, a P/E/G ratio of 4.08 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $312.64, for a total value of $312,640.00. Following the transaction, the vice president owned 97,067 shares in the company, valued at approximately $30,347,026.88. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the sale, the vice president directly owned 20,321 shares of the company’s stock, valued at $6,897,557.03. This represents a 21.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 69,525 shares of company stock worth $23,021,216. 0.37% of the stock is currently owned by 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.