Cadence Design Systems, Inc. $CDNS Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 617,715 shares of the software maker’s stock after buying an additional 15,943 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cadence Design Systems were worth $217,417,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in CDNS. Barrett & Company Inc. purchased a new stake in Cadence Design Systems in the second quarter valued at approximately $31,000. Robbins Farley acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at $35,000. Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems in the 2nd quarter valued at $32,000. Promus Capital LLC acquired a new stake in Cadence Design Systems during the 2nd quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in Cadence Design Systems during the 3rd quarter worth $39,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Down 0.7%

CDNS stock opened at $315.60 on Wednesday. The company’s 50-day moving average price is $322.57 and its 200 day moving average price is $332.30. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The company has a market cap of $85.91 billion, a P/E ratio of 81.34, a P/E/G ratio of 4.09 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $1.64 EPS. The company’s revenue 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 and its Q4 2025 guidance at 1.880-1.940 EPS. On average, research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CDNS shares. BNP Paribas started coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday. Citigroup assumed coverage on Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 target price on the stock. BNP Paribas Exane began coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.11.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $312.64, for a total value of $312,640.00. Following the transaction, the vice president directly owned 97,067 shares in the company, valued at $30,347,026.88. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the sale, the vice president owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,025 shares of company stock valued at $20,054,246. 0.37% of the stock is currently owned by company insiders.

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.