Navera Investment Management Ltd. Decreases Stock Position in Cadence Design Systems, Inc. $CDNS

Navera Investment Management Ltd. decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 812,731 shares of the software maker’s stock after selling 8,599 shares during the quarter. Cadence Design Systems makes up 5.5% of Navera Investment Management Ltd.’s holdings, making the stock its 8th largest holding. Navera Investment Management Ltd. owned 0.30% of Cadence Design Systems worth $285,514,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $1,190,618,000. Assenagon Asset Management S.A. lifted its position in Cadence Design Systems by 466.4% in the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after buying an additional 647,931 shares during the last quarter. Voya Investment Management LLC boosted its stake in Cadence Design Systems by 914.2% during the third 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 during the period. Scge Management L.P. bought a new position in Cadence Design Systems during the second quarter valued at $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 $130,534,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $317.45 on Friday. The company has a market cap of $86.41 billion, a PE ratio of 81.82, a P/E/G ratio of 3.54 and a beta of 1.02. The firm’s 50 day moving average price is $317.57 and its 200-day moving average price is $333.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Cadence Design Systems’s revenue was up 10.1% on a year-over-year basis. 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. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CDNS. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. BNP Paribas started coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Rosenblatt Securities increased their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Wall Street Zen lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $380.72.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the transaction, the vice president owned 97,067 shares in the company, valued at $30,347,026.88. The trade was a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anirudh Devgan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the transaction, the chief executive officer owned 195,844 shares of the company’s stock, valued at approximately $66,586,960. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,025 shares of company stock valued at $20,369,946 in the last three months. 1.99% 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.