Cadence Design Systems, Inc. $CDNS Shares Acquired by Amundi

Amundi grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,689,596 shares of the software maker’s stock after acquiring an additional 252,130 shares during the quarter. Amundi’s holdings in Cadence Design Systems were worth $513,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Westerkirk Capital Inc. acquired a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $2,024,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Cadence Design Systems by 10.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after purchasing an additional 14,022 shares in the last quarter. EFG Asset Management North America Corp. purchased a new position in Cadence Design Systems during the second quarter worth approximately $4,073,000. Charles Schwab Investment Management Inc. grew its holdings in Cadence Design Systems by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,779,848 shares of the software maker’s stock valued at $452,669,000 after purchasing an additional 73,719 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $289,744,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CDNS shares. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Wells Fargo & Company upped 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Tuesday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.11.

Cadence Design Systems Price Performance

CDNS stock opened at $337.30 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 business has a 50 day simple moving average of $328.71 and a 200-day simple moving average of $329.59. The firm has a market capitalization of $91.81 billion, a PE ratio of 86.93, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 earnings per share. 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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, 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 transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the transaction, the vice president owned 97,067 shares in the company, valued at $30,347,026.88. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,230 shares of company stock worth $5,499,372. 1.99% of the stock is owned by insiders.

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.