QRG Capital Management Inc. Has $15.21 Million Stock Position in Cadence Design Systems, Inc. $CDNS

QRG Capital Management Inc. lowered its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 34.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 49,352 shares of the software maker’s stock after selling 26,258 shares during the period. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $15,208,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in Cadence Design Systems in the 1st quarter worth about $289,744,000. Jennison Associates LLC increased its holdings in Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after purchasing an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Cadence Design Systems by 466.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after purchasing an additional 647,931 shares in the last quarter. Vanguard Group Inc. increased its holdings in Cadence Design Systems by 1.7% in 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 0.0%

Shares of NASDAQ:CDNS opened at $347.27 on Friday. The firm has a market cap of $94.63 billion, a P/E ratio of 93.86, a PEG ratio of 4.55 and a beta of 0.99. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The business’s 50 day simple moving average is $353.04 and its two-hundred day simple moving average is $314.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 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 brokerages have issued reports on CDNS. Needham & Company LLC upped their target price on Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. Rosenblatt Securities reiterated a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Friday, July 25th. Finally, BNP Paribas Exane began coverage on Cadence Design Systems in a research report on Thursday. They issued an “outperform” rating and a $400.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $368.53.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares of the company’s stock, 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 sold a total of 10,680 shares of company stock valued at $3,729,852 over the last ninety days. 1.99% of the stock is currently owned by insiders.

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.