Cadence Design Systems, Inc. $CDNS Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 83.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 182,348 shares of the software maker’s stock after acquiring an additional 82,856 shares during the period. Pacer Advisors Inc. owned approximately 0.07% of Cadence Design Systems worth $64,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CDNS. Norges Bank acquired a new stake in Cadence Design Systems in the second quarter valued at about $1,190,618,000. Assenagon Asset Management S.A. increased its position in Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after purchasing an additional 647,931 shares during the period. Voya Investment Management LLC raised its stake in shares of Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock worth $242,746,000 after buying an additional 622,934 shares in the last quarter. Scge Management L.P. acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $187,663,000. Finally, Bain Capital Public Equity Management II LLC purchased a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $130,534,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction 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 sale, the vice president owned 97,067 shares of the company’s stock, valued at $30,347,026.88. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the transaction, the vice president directly owned 20,321 shares of the company’s stock, valued at $6,897,557.03. The trade was a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 69,525 shares of company stock valued at $23,021,216. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several research analyst reports. BNP Paribas Exane initiated coverage on 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. Citigroup assumed coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Monday, December 15th. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, BNP Paribas started coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Trading Up 0.2%

Shares of CDNS opened at $317.58 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock has a market cap of $86.44 billion, a price-to-earnings ratio of 81.85, a price-to-earnings-growth ratio of 4.09 and a beta of 1.05. The firm has a 50 day simple moving average of $323.31 and a 200-day simple moving average of $331.65.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating 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 return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $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 analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

About Cadence Design Systems

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.