Migdal Insurance & Financial Holdings Ltd. Has $687,000 Position in Cadence Design Systems, Inc. $CDNS

Migdal Insurance & Financial Holdings Ltd. lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,238 shares of the software maker’s stock after selling 117 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cadence Design Systems were worth $687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Novem Group boosted its holdings in shares of Cadence Design Systems by 30.3% in the first quarter. Novem Group now owns 4,067 shares of the software maker’s stock valued at $1,034,000 after buying an additional 945 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after buying an additional 14,022 shares during the period. Brookstone Capital Management boosted its holdings in shares of Cadence Design Systems by 19.9% in the first quarter. Brookstone Capital Management now owns 17,430 shares of the software maker’s stock valued at $4,433,000 after buying an additional 2,898 shares during the period. Amalgamated Bank boosted its holdings in shares of Cadence Design Systems by 2.2% in the first quarter. Amalgamated Bank now owns 58,225 shares of the software maker’s stock valued at $14,808,000 after buying an additional 1,228 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Cadence Design Systems in the first quarter valued at approximately $12,031,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $341.30 on Wednesday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $346.78 and its 200-day simple moving average is $324.33. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market cap of $93.00 billion, a PE ratio of 87.96, a P/E/G ratio of 4.60 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) 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 30.73%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. 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. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’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 directly 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 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 company’s stock in a transaction 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 sale, the chief financial officer directly owned 70,715 shares in the company, 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 10,680 shares of company stock valued at $3,729,852. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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. Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer boosted their price objective on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a research report on Tuesday. Rosenblatt Securities boosted their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

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.