Cadence Design Systems, Inc. $CDNS Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 29.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,885 shares of the software maker’s stock after selling 3,660 shares during the quarter. Intech Investment Management LLC’s holdings in Cadence Design Systems were worth $2,738,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CDNS. Nuveen LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $289,744,000. Assenagon Asset Management S.A. grew its position in Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after purchasing an additional 647,931 shares during the last quarter. Vanguard Group Inc. increased its stake in Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after purchasing an additional 429,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cadence Design Systems by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock valued at $1,202,733,000 after acquiring an additional 312,757 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in Cadence Design Systems by 686.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock valued at $108,103,000 after purchasing an additional 306,198 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anirudh Devgan sold 5,550 shares of Cadence Design Systems stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the completion of the sale, the chief executive officer owned 195,844 shares in the company, valued at approximately $64,197,663.20. This trade represents a 2.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,230 shares of company stock valued at $5,530,682. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CDNS. Wells Fargo & Company raised their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Needham & Company LLC restated a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Mizuho increased their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Fourteen 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Trading Up 1.2%

Shares of Cadence Design Systems stock opened at $306.76 on Thursday. 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 fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm has a 50-day simple moving average of $338.62 and a two-hundred day simple moving average of $329.73. The company has a market cap of $83.50 billion, a P/E ratio of 79.06, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. Cadence Design Systems’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. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

About Cadence Design Systems

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.