Tokio Marine Asset Management Co. Ltd. Buys 75,009 Shares of Cadence Design Systems, Inc. $CDNS

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 802.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,352 shares of the software maker’s stock after buying an additional 75,009 shares during the quarter. Cadence Design Systems comprises approximately 1.1% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 15th largest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Cadence Design Systems were worth $29,629,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Cadence Design Systems by 83.3% in the third quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock worth $64,052,000 after acquiring an additional 82,856 shares during the period. Westerkirk Capital Inc. bought a new position in Cadence Design Systems in the 2nd quarter worth about $2,024,000. Stanley Laman Group Ltd. purchased a new position in Cadence Design Systems in the third quarter worth about $6,177,000. Patton Fund Management Inc. boosted its stake in Cadence Design Systems by 1,743.7% during the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock valued at $4,916,000 after purchasing an additional 13,235 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cadence Design Systems by 10.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after buying an additional 14,022 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wolfe Research reissued an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. BNP Paribas assumed 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 objective on the stock. Robert W. Baird upped their price objective 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Finally, Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $327.31 on Monday. The company has a market cap of $89.09 billion, a price-to-earnings ratio of 84.36, a PEG ratio of 3.65 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The stock’s fifty day moving average price is $318.49 and its 200 day moving average price is $333.30. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. 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. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares in the company, valued at approximately $6,897,557.03. The trade was a 21.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction dated Friday, December 5th. The shares were 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 owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 62,025 shares of company stock valued at $20,369,946. Corporate insiders own 0.37% of the company’s stock.

About Cadence Design Systems

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.