Acadian Asset Management LLC Purchases 9,390 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Acadian Asset Management LLC increased its stake in Cadence Design Systems by 172.4%, acquiring an additional 9,390 shares to bring its total holdings to 14,836 shares, valued at approximately $3.77 million.
• Cadence Design Systems reported strong earnings with $1.65 EPS, surpassing consensus estimates, and a 20.2% year-over-year revenue growth in its latest quarterly report.
• Wall Street analysts have a favorable outlook for Cadence Design Systems, with a consensus rating of "Moderate Buy" and a target price averaging $364.33 among twelve analysts.

Acadian Asset Management LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 172.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,836 shares of the software maker's stock after acquiring an additional 9,390 shares during the quarter. Acadian Asset Management LLC's holdings in Cadence Design Systems were worth $3,772,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cadence Design Systems by 7.1% in the first 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 buying an additional 312,757 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cadence Design Systems by 10.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock valued at $1,326,912,000 after purchasing an additional 427,418 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after purchasing an additional 296,983 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Down 3.2%

Shares of NASDAQ:CDNS opened at $343.48 on Monday. The stock has a 50 day moving average of $342.75 and a 200 day moving average of $303.02. The company has a market cap of $93.59 billion, a PE ratio of 92.83, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. 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, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CDNS. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 price target on the stock. KeyCorp raised their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Piper Sandler reiterated a "neutral" rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Loop Capital boosted their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm'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 value of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,180 shares of company stock worth $1,069,232. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Company 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.

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