Raiffeisen Bank International AG Has $14.31 Million Stake in Cadence Design Systems, Inc. $CDNS

Raiffeisen Bank International AG cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,100 shares of the software maker’s stock after selling 568 shares during the quarter. Raiffeisen Bank International AG’s holdings in Cadence Design Systems were worth $14,312,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Costello Asset Management INC bought a new stake in Cadence Design Systems during the first quarter worth approximately $25,000. Barrett & Company Inc. bought a new position in shares of Cadence Design Systems in the second quarter worth about $31,000. Saudi Central Bank acquired a new position in shares of Cadence Design Systems during the 1st quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after buying an additional 37 shares during the last quarter. Finally, Key Financial Inc increased its position in Cadence Design Systems by 174.5% during the second quarter. Key Financial Inc now owns 129 shares of the software maker’s stock worth $40,000 after acquiring an additional 82 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $340.26, for a total value of $340,260.00. Following the transaction, the vice president directly owned 98,067 shares in the company, valued at $33,368,277.42. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, September 10th. The stock was 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 $2,619,213.30. This represents a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BNP Paribas started coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Piper Sandler reissued a “neutral” rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Loop Capital lifted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $314.93 on Monday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The stock has a 50-day simple moving average of $341.41 and a 200 day simple moving average of $329.85. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $85.72 billion, a price-to-earnings ratio of 81.17, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 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%.The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems 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.