Mitsubishi UFJ Trust & Banking Corp Purchases 7,990 Shares of Cadence Design Systems, Inc. $CDNS

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,722 shares of the software maker’s stock after acquiring an additional 7,990 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Cadence Design Systems worth $53,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in shares of Cadence Design Systems during the 1st quarter worth $25,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems in the 2nd quarter valued at approximately $31,000. Saudi Central Bank acquired a new position in shares of Cadence Design Systems during the first quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after purchasing an additional 37 shares during the period. Finally, Key Financial Inc raised its position in Cadence Design Systems by 174.5% during the 2nd quarter. Key Financial Inc now owns 129 shares of the software maker’s stock worth $40,000 after purchasing an additional 82 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Price Performance

CDNS stock opened at $315.35 on Thursday. The company has a market capitalization of $85.84 billion, a P/E ratio of 81.28, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 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. The business has a 50-day simple moving average of $342.80 and a two-hundred day simple moving average of $329.32.

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, beating 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 for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $1.64 earnings per share. The company’s revenue for the quarter 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. Q4 2025 guidance at 1.880-1.940 EPS. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the transaction, the vice president directly owned 98,067 shares in the company, valued at $33,368,277.42. This trade represents a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,230 shares of company stock worth $5,530,682. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Rosenblatt Securities boosted their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Mizuho boosted their price objective 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. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

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.