Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in Cadence Design Systems, Inc. $CDNS

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,203 shares of the software maker’s stock after purchasing an additional 9,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cadence Design Systems were worth $21,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new stake in Cadence Design Systems in the first quarter worth $25,000. Costello Asset Management INC bought a new stake in shares of Cadence Design Systems during the 1st quarter valued at $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems in the 1st quarter worth about $27,000. Valley National Advisers Inc. increased its stake in shares of Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after acquiring an additional 99 shares in the last quarter. Finally, Barrett & Company Inc. bought a new position in shares of Cadence Design Systems in the 2nd quarter worth about $31,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Up 1.8%

CDNS stock opened at $351.40 on Tuesday. The stock has a market capitalization of $95.75 billion, a P/E ratio of 94.97, a P/E/G ratio of 4.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The business has a fifty day moving average price of $346.90 and a 200-day moving average price of $323.72.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted $1.64 earnings per share. Cadence Design Systems’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. Q4 2025 guidance at 1.880-1.940 EPS. Equities analysts forecast 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 Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock worth $3,729,852 over the last three months. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent research reports. KeyCorp upped their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a “neutral” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research note on Wednesday, October 22nd. Mizuho lifted their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. BNP Paribas Exane started coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $369.71.

About Cadence Design Systems

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.