Tobam Sells 201 Shares of Cadence Design Systems, Inc. $CDNS

Tobam reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 38.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 319 shares of the software maker’s stock after selling 201 shares during the quarter. Tobam’s holdings in Cadence Design Systems were worth $98,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of 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 worth $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Jennison Associates LLC increased its position in shares of Cadence Design Systems by 3.0% during the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after purchasing an additional 273,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cadence Design Systems by 7.1% in the first 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 purchasing an additional 312,757 shares in the last quarter. Invesco Ltd. lifted its position in Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after purchasing an additional 296,983 shares during the period. Finally, Swedbank AB boosted its stake in Cadence Design Systems by 3.4% during the second quarter. Swedbank AB now owns 1,979,920 shares of the software maker’s stock worth $610,112,000 after buying an additional 64,514 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 5,550 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total value of $1,819,290.00. Following the transaction, the chief executive officer owned 195,844 shares of the company’s stock, valued at approximately $64,197,663.20. This trade represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $340.26, for a total transaction of $340,260.00. Following the sale, the vice president directly owned 98,067 shares of the company’s stock, valued at approximately $33,368,277.42. This trade represents a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 1.0%

Shares of NASDAQ:CDNS opened at $315.35 on Thursday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm has a market cap of $85.84 billion, a P/E ratio of 81.28, a P/E/G ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company’s 50-day moving average price is $342.80 and its two-hundred day moving average price is $329.32.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. Cadence Design Systems’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CDNS shares. Loop Capital increased 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Mizuho increased their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

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.