Cadence Design Systems, Inc. $CDNS Stake Increased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,474 shares of the software maker’s stock after buying an additional 7,398 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cadence Design Systems were worth $31,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Norges Bank purchased a new position in Cadence Design Systems during the second quarter valued at approximately $1,190,618,000. Virtue Capital Management LLC grew its holdings in shares of Cadence Design Systems by 9.0% during the 2nd quarter. Virtue Capital Management LLC now owns 1,703 shares of the software maker’s stock valued at $525,000 after acquiring an additional 141 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cadence Design Systems by 15.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,779 shares of the software maker’s stock valued at $4,554,000 after purchasing an additional 1,951 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Cadence Design Systems by 1.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 265,279 shares of the software maker’s stock worth $81,746,000 after purchasing an additional 3,590 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of Cadence Design Systems by 9.3% during the 2nd quarter. Korea Investment CORP now owns 174,138 shares of the software maker’s stock worth $53,661,000 after purchasing an additional 14,749 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 related news, CEO Anirudh Devgan sold 5,550 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 195,844 shares in the company, valued at $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the firm’s 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 owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,230 shares of company stock valued at $5,530,682 in the last ninety days. 1.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Oppenheimer lifted their price objective on shares of Cadence Design Systems from $200.00 to $225.00 and gave the company an “underperform” rating in a research note on Tuesday, October 28th. Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday. They set a “buy” rating and a $385.00 target price on the stock. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.47.

Cadence Design Systems Trading Up 1.8%

Cadence Design Systems stock opened at $311.90 on Friday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The firm has a market capitalization of $84.90 billion, a PE ratio of 80.39, a PEG ratio of 4.55 and a beta of 1.00. The business’s 50-day simple moving average is $331.64 and its 200-day simple moving average is $329.43.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business posted $1.64 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.