Amundi Lowers Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Amundi reduced its stake in Cadence Design Systems by 8.3% in Q1, selling 130,196 shares to hold 1,437,466 shares valued at approximately $358.9 million.
• Several institutional investors increased their positions in Cadence Design Systems, with notable increases from Merit Financial Group (42.6%) and Novem Group (30.3%).
• Cadence Design Systems reported a quarterly EPS of $1.65, exceeding estimates, with revenue rising 20.2% year-over-year, highlighting strong financial performance.

Amundi decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 8.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437,466 shares of the software maker's stock after selling 130,196 shares during the quarter. Amundi owned about 0.53% of Cadence Design Systems worth $358,911,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CDNS. Federation des caisses Desjardins du Quebec lifted its position in Cadence Design Systems by 288.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 57,803 shares of the software maker's stock worth $14,701,000 after acquiring an additional 42,925 shares during the period. 1248 Management LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth about $94,000. Flputnam Investment Management Co. lifted its position in Cadence Design Systems by 6.2% during the 1st quarter. Flputnam Investment Management Co. now owns 4,884 shares of the software maker's stock worth $1,242,000 after acquiring an additional 285 shares during the period. Graham Capital Management L.P. lifted its position in Cadence Design Systems by 381.4% during the 1st quarter. Graham Capital Management L.P. now owns 4,530 shares of the software maker's stock worth $1,152,000 after acquiring an additional 3,589 shares during the period. Finally, Benchstone Capital Management LP acquired a new stake in Cadence Design Systems during the 1st quarter worth about $12,204,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CDNS shares. Stifel Nicolaus lifted their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research note on Friday, July 25th. Piper Sandler reiterated a "neutral" rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Needham & Company LLC lifted their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company lifted their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $364.33.

Insiders Place Their Bets

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the transaction, the director owned 8,010 shares of the company's stock, valued at $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 4,180 shares of company stock worth $1,365,740 in the last ninety days. Corporate insiders own 0.37% of the company's stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded up $9.63 during trading hours on Monday, hitting $360.64. 1,761,252 shares of the stock were exchanged, compared to its average volume of 1,989,512. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The firm's fifty day moving average price is $339.27 and its 200 day moving average price is $299.55. The company has a market cap of $98.27 billion, a P/E ratio of 97.47, a P/E/G ratio of 4.60 and a beta of 1.00. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The business's revenue was up 20.2% compared to the same quarter last year. 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 anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal 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.