Assenagon Asset Management S.A. Has $242.47 Million Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Assenagon Asset Management S.A. increased its stake in Cadence Design Systems by 466.4% during the second quarter, acquiring a total of 786,849 shares valued at approximately $242.5 million.
• Analysts have raised their target prices for Cadence Design Systems, with Wells Fargo increasing it from $365 to $405 and Loop Capital raising it from $370 to $390, reflecting confidence in the company's growth.
• Cadence Design Systems reported earnings of $1.65 per share for the latest quarter, exceeding analysts' estimates by $0.09, with year-over-year revenue growth of 20.2%.

Assenagon Asset Management S.A. grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 466.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 786,849 shares of the software maker's stock after acquiring an additional 647,931 shares during the quarter. Assenagon Asset Management S.A. owned about 0.29% of Cadence Design Systems worth $242,468,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CDNS. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after acquiring an additional 676 shares during the period. Two Sigma Investments LP bought a new stake in shares of Cadence Design Systems in the 4th quarter worth $1,352,000. Connecticut Wealth Management LLC raised its stake in shares of Cadence Design Systems by 24.4% in the 4th quarter. Connecticut Wealth Management LLC now owns 985 shares of the software maker's stock worth $296,000 after buying an additional 193 shares in the last quarter. Vise Technologies Inc. raised its stake in shares of Cadence Design Systems by 74.2% in the 4th quarter. Vise Technologies Inc. now owns 4,800 shares of the software maker's stock worth $1,442,000 after buying an additional 2,045 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter worth $111,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction 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 transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,180 shares of company stock valued at $1,069,232 over the last ninety days. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

CDNS has been the topic of a number of research reports. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. 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 research report on Tuesday, July 29th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reissued a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Friday, July 25th. Finally, Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Cadence Design Systems Stock Performance

NASDAQ:CDNS traded down $6.06 during mid-day trading on Tuesday, hitting $367.32. 340,273 shares of the company's stock traded hands, compared to its average volume of 2,009,770. The firm has a 50 day moving average of $347.39 and a two-hundred day moving average of $307.88. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market capitalization of $100.09 billion, a price-to-earnings ratio of 99.50, a price-to-earnings-growth ratio of 4.90 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 (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during 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 quarter in the prior year, the firm posted $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. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.