Mitsubishi UFJ Trust & Banking Corp Acquires 7,990 Shares of Cadence Design Systems, Inc. $CDNS

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.8% during the second quarter, HoldingsChannel reports. The fund owned 174,722 shares of the software maker’s stock after purchasing an additional 7,990 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cadence Design Systems were worth $53,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Costello Asset Management INC purchased a new stake in Cadence Design Systems during the 1st quarter worth about $25,000. Barrett & Company Inc. purchased a new stake in shares of Cadence Design Systems in the second quarter worth about $31,000. Saudi Central Bank bought a new position in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Cadence Design Systems by 41.1% during 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 acquiring an additional 37 shares in the last quarter. Finally, Key Financial Inc increased 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 period. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $315.35 on Thursday. The firm has a fifty day simple moving average of $342.80 and a two-hundred day simple moving average of $329.32. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market capitalization of $85.84 billion, a PE ratio of 81.28, a P/E/G ratio of 4.55 and a beta of 1.00.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CDNS shares. Loop Capital boosted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Needham & Company LLC restated a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Wells Fargo & Company raised their price target on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Insider Activity

In other Cadence Design Systems 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 owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,230 shares of company stock valued at $5,530,682. 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.