Cadence Design Systems, Inc. $CDNS Stake Lifted by KBC Group NV

KBC Group NV increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,236 shares of the software maker’s stock after purchasing an additional 9,488 shares during the period. KBC Group NV’s holdings in Cadence Design Systems were worth $40,749,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter valued at $289,744,000. Jennison Associates LLC boosted its stake in Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock valued at $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Cadence Design Systems by 466.4% during 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 buying an additional 647,931 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after buying an additional 429,955 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 acquiring an additional 312,757 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Piper Sandler reiterated a “neutral” rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Oppenheimer raised their target price on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a report on Tuesday, October 28th. Wolfe Research restated an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. upped their price target on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Stock Down 1.0%

CDNS stock opened at $315.35 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. The firm has a market capitalization of $85.84 billion, a P/E ratio of 81.28, a P/E/G ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company’s 50 day simple moving average is $342.80 and its 200-day simple moving average is $329.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company posted $1.64 EPS. The company’s quarterly 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. Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the transaction, the chief executive officer owned 195,844 shares of the company’s stock, valued at $64,197,663.20. The trade was a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 16,230 shares of company stock worth $5,530,682. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Company Profile

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.