Amundi Has $706.75 Million Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Amundi reduced its Cadence Design Systems stake by 8.6% in the second quarter, selling 177,224 shares and retaining 1.88 million shares valued at approximately $706.8 million.
• Institutional ownership remains high at 84.85%, while analysts maintain a favorable outlook: 13 rate CDNS a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and a $405.69 price target.
• Cadence reported quarterly EPS of $2.11, exceeding estimates, with revenue rising 24.2% year over year to $1.58 billion. The stock opened at $292.70, below its 50-day and 200-day moving averages.

Amundi trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,883,110 shares of the software maker's stock after selling 177,224 shares during the period. Amundi owned 0.68% of Cadence Design Systems worth $706,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in Cadence Design Systems by 37,856.6% in the 2nd quarter. California State Teachers Retirement System now owns 154,968,502 shares of the software maker's stock valued at $58,162,778,000 after purchasing an additional 154,560,224 shares during the period. State Street Corp grew its position in Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC grew its position in Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock worth $2,378,707,000 after buying an additional 92,152 shares in the last quarter. Van ECK Associates Corp increased its stake in Cadence Design Systems by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker's stock worth $1,835,227,000 after acquiring an additional 874,392 shares during the period. Finally, Norges Bank bought a new position in Cadence Design Systems during the 4th quarter worth $1,352,922,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CDNS shares. Bank of America increased their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Piper Sandler upped their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Benchmark restated a "buy" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Robert W. Baird upped their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $405.69.

Insider Activity

In related news, VP Paul Scannell sold 280 shares of Cadence Design Systems stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the sale, the vice president directly owned 31,720 shares in the company, valued at approximately $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total transaction of $401,100.00. Following the completion of the transaction, the director owned 40,794 shares in the company, valued at approximately $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 7,221 shares of company stock valued at $2,570,606. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Price Performance

CDNS stock opened at $292.70 on Monday. The company has a fifty day moving average price of $341.57 and a 200-day moving average price of $334.06. The company has a market capitalization of $80.61 billion, a P/E ratio of 58.19, a PEG ratio of 3.14 and a beta of 1.14. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm's revenue was up 24.2% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc NASDAQ: CDNS is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company's offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.

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