OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New $8.14 Million Investment in Cadence Design Systems, Inc. $CDNS

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,400 shares of the software maker’s stock, valued at approximately $8,135,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Saudi Central Bank acquired a new stake in Cadence Design Systems during the 1st quarter valued at $27,000. Barrett & Company Inc. bought a new stake in shares of Cadence Design Systems during the second quarter worth $31,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after buying an additional 37 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Cadence Design Systems in the second quarter valued at about $40,000. Finally, Key Financial Inc grew its holdings in Cadence Design Systems by 174.5% during the 2nd quarter. Key Financial Inc now owns 129 shares of the software maker’s stock worth $40,000 after acquiring an additional 82 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

CDNS opened at $338.06 on Thursday. The stock has a market cap of $92.02 billion, a P/E ratio of 87.13, a P/E/G ratio of 4.31 and a beta of 1.05. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $327.63 and a 200 day simple moving average of $330.19.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 earnings per share. 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. On average, research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CDNS. Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Robert W. Baird boosted their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $385.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $312.64, for a total value of $312,640.00. Following the transaction, the vice president owned 97,067 shares of the company’s stock, valued at approximately $30,347,026.88. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This trade represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 36,050 shares of company stock worth $12,239,160. Company insiders own 1.99% of the company’s stock.

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.