Cadence Design Systems, Inc. $CDNS Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,365 shares of the software maker’s stock after buying an additional 313 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Cadence Design Systems worth $64,824,000 at the end of the most recent quarter.

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

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $324.25 on Friday. The firm has a market capitalization of $88.35 billion, a P/E ratio of 87.64, a P/E/G ratio of 4.25 and a beta of 0.99. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. 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 firm’s 50 day moving average is $349.00 and its two-hundred day moving average is $318.41.

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 the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDNS. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Mizuho increased their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Finally, Loop Capital upped their target price 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. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock worth $3,729,852 over the last three months. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Company 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.