Migdal Insurance & Financial Holdings Ltd. Sells 117 Shares of Cadence Design Systems, Inc. $CDNS

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,238 shares of the software maker’s stock after selling 117 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cadence Design Systems were worth $687,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Novem Group lifted its holdings in Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker’s stock valued at $1,034,000 after purchasing an additional 945 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after acquiring an additional 14,022 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Cadence Design Systems by 19.9% in the first quarter. Brookstone Capital Management now owns 17,430 shares of the software maker’s stock worth $4,433,000 after acquiring an additional 2,898 shares during the last quarter. Amalgamated Bank raised its stake in shares of Cadence Design Systems by 2.2% in the first quarter. Amalgamated Bank now owns 58,225 shares of the software maker’s stock worth $14,808,000 after acquiring an additional 1,228 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Cadence Design Systems in the first quarter worth about $12,031,000. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CDNS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Rosenblatt Securities boosted 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 note on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Trading Down 2.9%

CDNS opened at $341.30 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market cap of $93.00 billion, a price-to-earnings ratio of 87.96, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. The firm has a 50 day simple moving average of $346.78 and a 200 day simple moving average of $324.33. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during 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 30.73%. Cadence Design Systems’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares in the company, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,680 shares of company stock worth $3,729,852. 0.37% of the stock is currently owned by company insiders.

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.