Cadence Design Systems, Inc. $CDNS Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,595,861 shares of the software maker’s stock after acquiring an additional 256,719 shares during the period. Vanguard Group Inc. owned approximately 9.76% of Cadence Design Systems worth $8,195,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after purchasing an additional 676 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Cadence Design Systems by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 10,085 shares of the software maker’s stock valued at $2,565,000 after buying an additional 126 shares during the period. Gallacher Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 4.5% in the 1st quarter. Gallacher Capital Management LLC now owns 1,330 shares of the software maker’s stock valued at $338,000 after buying an additional 57 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of Cadence Design Systems by 338.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 219 shares of the software maker’s stock valued at $56,000 after buying an additional 169 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in Cadence Design Systems by 393.1% during the first quarter. Crestwood Advisors Group LLC now owns 3,728 shares of the software maker’s stock worth $948,000 after acquiring an additional 2,972 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 2.6%

Shares of CDNS opened at $303.21 on Wednesday. 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 has a 50 day simple moving average of $339.25 and a 200-day simple moving average of $329.89. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock has a market cap of $82.53 billion, a price-to-earnings ratio of 78.15, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The firm 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%.Cadence Design Systems’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. 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 analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of recent analyst reports. BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Loop Capital raised their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wells Fargo & Company upped their price target on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Stifel Nicolaus raised their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the transaction, the vice president directly owned 98,067 shares of the company’s stock, valued at $33,368,277.42. The trade was a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,230 shares of company stock worth $5,530,682 in the last ninety days. 1.99% of the stock is currently owned by insiders.

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.