Mediolanum International Funds Ltd Raises Position in Cadence Design Systems, Inc. $CDNS

Mediolanum International Funds Ltd lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,875 shares of the software maker’s stock after buying an additional 6,134 shares during the period. Mediolanum International Funds Ltd’s holdings in Cadence Design Systems were worth $7,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen LLC bought a new stake in shares of Cadence Design Systems in the 1st quarter worth $289,744,000. Assenagon Asset Management S.A. lifted its position in shares of Cadence Design Systems by 466.4% during the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after purchasing an additional 647,931 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cadence Design Systems by 7.1% in 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 worth $1,202,733,000 after purchasing an additional 312,757 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Cadence Design Systems by 686.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock valued at $108,103,000 after buying an additional 306,198 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,550 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the sale, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. This represents a 2.76% 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, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,230 shares of company stock worth $5,530,682. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $300.58 on Friday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. 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 stock’s fifty day moving average price is $336.71 and its two-hundred day moving average price is $329.48. The firm has a market cap of $81.82 billion, a PE ratio of 77.47, a PEG ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data 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 business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $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. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. BNP Paribas assumed coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Wells Fargo & Company raised their target price on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Loop Capital boosted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $376.00.

About Cadence Design Systems

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.