UniSuper Management Pty Ltd Has $56.95 Million Stock Position in Cadence Design Systems, Inc. $CDNS

UniSuper Management Pty Ltd grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 40.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 162,127 shares of the software maker’s stock after acquiring an additional 46,658 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Cadence Design Systems were worth $56,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Westfuller Advisors LLC bought a new stake in Cadence Design Systems in the third quarter valued at $129,000. Teacher Retirement System of Texas lifted its holdings in shares of Cadence Design Systems by 24.9% during the third quarter. Teacher Retirement System of Texas now owns 88,040 shares of the software maker’s stock valued at $30,925,000 after acquiring an additional 17,577 shares during the period. iA Global Asset Management Inc. lifted its holdings in shares of Cadence Design Systems by 4.6% during the third quarter. iA Global Asset Management Inc. now owns 33,378 shares of the software maker’s stock valued at $11,724,000 after acquiring an additional 1,480 shares during the period. Leelyn Smith LLC boosted its stake in shares of Cadence Design Systems by 23.7% in the 3rd quarter. Leelyn Smith LLC now owns 4,420 shares of the software maker’s stock valued at $1,553,000 after purchasing an additional 846 shares in the last quarter. Finally, Accredited Investors Inc. grew its holdings in shares of Cadence Design Systems by 36.5% in the 3rd quarter. Accredited Investors Inc. now owns 3,907 shares of the software maker’s stock worth $1,372,000 after purchasing an additional 1,045 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $318.32 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The firm has a 50 day simple moving average of $317.17 and a 200 day simple moving average of $333.24. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm has a market cap of $86.65 billion, a P/E ratio of 82.04, a P/E/G ratio of 3.54 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data 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. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 EPS. 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 predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on CDNS. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a report on Monday, December 1st. Finally, Robert W. Baird increased their price target on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $379.59.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $340.00, for a total value of $6,800,000.00. Following the transaction, the chief executive officer owned 195,844 shares in the company, valued at $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the sale, the chief financial officer owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,025 shares of company stock valued at $20,369,946 over the last ninety days. Company insiders own 1.99% of the company’s stock.

About Cadence Design Systems

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.