ASR Vermogensbeheer N.V. Raises Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Cadence Design Systems by 25.0% in Q2, now holding 19,292 shares worth approximately $5.94 million.
• Cadence Design Systems reported a 20.2% year-over-year increase in revenue, totaling $1.28 billion for the last quarter, exceeding analysts' expectations.
• Several analysts have raised their price targets for Cadence Design Systems, with Loop Capital setting a new target of $390.00 and BNP Paribas initiating coverage with a target of $400.00.

ASR Vermogensbeheer N.V. lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 25.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,292 shares of the software maker's stock after acquiring an additional 3,864 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Cadence Design Systems were worth $5,944,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in Cadence Design Systems during the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems during the first quarter worth about $25,000. Saudi Central Bank purchased a new position in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. Valley National Advisers Inc. boosted its stake in shares of Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after purchasing an additional 99 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in shares of Cadence Design Systems by 36.5% in the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock valued at $44,000 after purchasing an additional 46 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $347.27 on Friday. The firm has a market cap of $94.63 billion, a PE ratio of 93.86, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. The company's 50 day simple moving average is $353.04 and its 200-day simple moving average is $313.74. 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. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $1.28 EPS. Cadence Design Systems's revenue for the quarter was up 20.2% on a year-over-year basis. 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 analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,680 shares of company stock valued at $3,729,852. Company insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Loop Capital boosted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. BNP Paribas started coverage on shares of Cadence Design Systems in a report on Thursday. They set an "outperform" rating and a $400.00 price target for the company. Needham & Company LLC boosted their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Finally, Berenberg Bank set a $400.00 price target on Cadence Design Systems in a report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $368.53.

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.

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