Cadence Design Systems, Inc. $CDNS Shares Acquired by Avanza Fonder AB

Key Points

• Avanza Fonder AB increased its position in Cadence Design Systems, boosting its holdings by 7.0% during the 2nd quarter, totaling 18,977 shares valued at approximately $5.85 million.
• Cadence Design Systems posted $1.65 EPS for the last quarter, surpassing estimates, with a revenue increase of 20.2% year-over-year.
• Rate changes from analysts show a consensus of "Moderate Buy" for Cadence Design Systems, with the average price target set at $364.33.

Avanza Fonder AB lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,977 shares of the software maker's stock after purchasing an additional 1,244 shares during the quarter. Avanza Fonder AB's holdings in Cadence Design Systems were worth $5,848,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Sowell Financial Services LLC boosted its position in shares of Cadence Design Systems by 3.5% in the 2nd quarter. Sowell Financial Services LLC now owns 3,378 shares of the software maker's stock valued at $1,041,000 after purchasing an additional 114 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Cadence Design Systems by 27.7% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 272 shares of the software maker's stock valued at $84,000 after purchasing an additional 59 shares during the period. Walter Public Investments Inc. boosted its position in shares of Cadence Design Systems by 6.5% in the 2nd quarter. Walter Public Investments Inc. now owns 66,600 shares of the software maker's stock valued at $20,523,000 after purchasing an additional 4,049 shares during the period. UMB Bank n.a. lifted its position in Cadence Design Systems by 16.4% during the 2nd quarter. UMB Bank n.a. now owns 1,211 shares of the software maker's stock worth $373,000 after acquiring an additional 171 shares during the period. Finally, Diversified Trust Co lifted its position in Cadence Design Systems by 9.3% during the 2nd quarter. Diversified Trust Co now owns 939 shares of the software maker's stock worth $289,000 after acquiring an additional 80 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated 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 sale, the director owned 7,830 shares of the company's stock, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares of the company's stock, valued at $35,254,531.05. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,180 shares of company stock valued at $1,069,232 in the last ninety days. Company insiders own 0.37% of the company's stock.

Cadence Design Systems Trading Down 2.3%

CDNS stock traded down $8.54 during trading on Tuesday, reaching $364.84. 767,085 shares of the stock traded hands, compared to its average volume of 2,012,102. The business's 50 day moving average price is $347.39 and its 200-day moving average price is $307.88. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The firm has a market capitalization of $99.41 billion, a PE ratio of 98.63, a P/E/G ratio of 4.90 and a beta of 1.00.

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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The firm's quarterly 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, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent research reports. Needham & Company LLC increased their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target for the company. Finally, Piper Sandler reissued a "neutral" rating and issued a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $364.33.

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.