DSM Capital Partners LLC Decreases Stake in Cadence Design Systems, Inc. $CDNS

DSM Capital Partners LLC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 263,468 shares of the software maker’s stock after selling 2,453 shares during the quarter. Cadence Design Systems comprises about 1.3% of DSM Capital Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. DSM Capital Partners LLC’s holdings in Cadence Design Systems were worth $92,546,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in shares of Cadence Design Systems by 83.3% in the third quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock valued at $64,052,000 after purchasing an additional 82,856 shares during the period. Westerkirk Capital Inc. purchased a new position in Cadence Design Systems in the second quarter valued at about $2,024,000. Patton Fund Management Inc. boosted its position in Cadence Design Systems by 1,743.7% during the third quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock worth $4,916,000 after purchasing an additional 13,235 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after purchasing an additional 14,022 shares during the last quarter. Finally, EFG Asset Management North America Corp. acquired a new stake in Cadence Design Systems in the second quarter valued at $4,073,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Up 4.5%

CDNS stock opened at $314.64 on Wednesday. The company has a 50 day moving average price of $319.48 and a two-hundred day moving average price of $332.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a market capitalization of $85.65 billion, a P/E ratio of 81.09, a PEG ratio of 3.36 and a beta of 1.02. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results 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. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 EPS. 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. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on CDNS shares. KeyCorp reiterated an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company raised their price target on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research 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.com, the company has an average rating of “Moderate Buy” and an average target price of $379.11.

Insider Transactions at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the sale, the director directly owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 62,025 shares of company stock worth $20,369,946 in the last quarter. 0.37% of the stock is currently owned by corporate 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.