Cadence Design Systems, Inc. $CDNS Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 123,750 shares of the software maker’s stock after buying an additional 4,987 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cadence Design Systems were worth $38,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Nuveen LLC bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $289,744,000. Assenagon Asset Management S.A. increased its position in Cadence Design Systems by 466.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after acquiring an additional 647,931 shares during the period. Vanguard Group Inc. raised 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 acquiring an additional 429,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cadence Design Systems by 7.1% during 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position 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 worth $108,103,000 after acquiring an additional 306,198 shares during the period. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Oppenheimer increased their price objective on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company boosted their target price on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average price target of $376.47.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $311.90 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67. The firm’s 50 day moving average is $331.64 and its 200-day moving average is $329.43. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The stock has a market capitalization of $84.90 billion, a P/E ratio of 80.39, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its 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 firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

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

Cadence Design Systems 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.