Cadence Design Systems, Inc. $CDNS Stock Position Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,262 shares of the software maker’s stock after buying an additional 518 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cadence Design Systems were worth $4,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new stake in Cadence Design Systems in the 1st quarter valued at about $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems in the 1st quarter valued at about $25,000. Barrett & Company Inc. bought a new stake in Cadence Design Systems in the 2nd quarter valued at about $31,000. Saudi Central Bank bought a new stake in Cadence Design Systems in the 1st quarter valued at about $27,000. Finally, Valley National Advisers Inc. lifted its position in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CDNS. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They set a “buy” rating and a $380.00 price target on the stock. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 30th. KeyCorp boosted their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $368.53.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $348.67 on Friday. The firm’s 50 day moving average is $352.27 and its 200-day moving average is $316.16. The stock has a market capitalization of $95.01 billion, a P/E ratio of 94.24, a P/E/G ratio of 4.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred 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 transaction, the director directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock valued at $3,729,852 over the last ninety days. Corporate 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.