TD Asset Management Inc Has $105.45 Million Stake in Cadence Design Systems, Inc. $CDNS

TD Asset Management Inc decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,192 shares of the software maker’s stock after selling 16,290 shares during the quarter. TD Asset Management Inc owned about 0.13% of Cadence Design Systems worth $105,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new position in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. Valley National Advisers Inc. grew its position in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,680 shares of company stock worth $3,729,852. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CDNS shares. Loop Capital boosted their price target on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. KeyCorp boosted their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Mizuho boosted their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Thirteen 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 MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average price target of $368.53.

Cadence Design Systems Stock Down 2.0%

NASDAQ CDNS opened at $325.75 on Wednesday. The business has a fifty day moving average price of $350.33 and a two-hundred day moving average price of $317.89. 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 fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market capitalization of $88.76 billion, a PE ratio of 88.04, a PEG ratio of 4.36 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company earned $1.28 EPS. Cadence Design Systems’s revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities analysts expect 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.