Avanza Fonder AB Raises Stock Position in Cadence Design Systems, Inc. $CDNS

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 raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,977 shares of the software maker's stock after buying 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 reporting period.

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

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction that occurred 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 owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director directly owned 7,830 shares of the company's stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,180 shares of company stock worth $1,069,232. Insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Up 2.3%

Shares of NASDAQ:CDNS traded up $8.47 during midday trading on Friday, hitting $373.35. 5,003,397 shares of the company's stock were exchanged, compared to its average volume of 1,797,423. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a market cap of $101.73 billion, a PE ratio of 100.91, a price-to-earnings-growth ratio of 4.90 and a beta of 1.00. 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 stock has a 50 day moving average price of $346.27 and a 200-day moving average price of $306.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion for 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%.Cadence Design Systems's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. 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, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several research reports. Wells Fargo & Company increased their target price on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. 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 report on Tuesday, July 29th. Rosenblatt Securities reissued a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a research note on Friday, July 25th. KeyCorp increased their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus 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.