Massachusetts Financial Services Co. MA Buys 731,788 Shares of Cadence Design Systems, Inc. $CDNS

Massachusetts Financial Services Co. MA boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,314,407 shares of the software maker’s stock after acquiring an additional 731,788 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cadence Design Systems were worth $1,866,739,000 as of its most recent SEC filing.

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

Cadence Design Systems Trading Down 1.0%

Shares of CDNS stock opened at $317.45 on Friday. The company has a market capitalization of $86.41 billion, a PE ratio of 81.82, a price-to-earnings-growth ratio of 3.54 and a beta of 1.02. 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 business’s fifty day moving average is $317.57 and its 200 day moving average is $333.58. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $1.64 earnings per share. Cadence Design Systems’s quarterly 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, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CDNS. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. BNP Paribas Exane assumed 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. Wolfe Research restated an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a research note on Monday, December 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $380.72.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 195,844 shares in the company, valued at $66,586,960. This represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the transaction, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. This represents a 28.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 62,025 shares of company stock valued at $20,369,946. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Profile

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.