Swedbank AB Has $610.11 Million Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Swedbank AB increased its stake in Cadence Design Systems by 3.4%, making it the 26th largest holding in its portfolio, valued at approximately $610 million.
• In its most recent earnings report, Cadence Design Systems announced an EPS of $1.65, exceeding analyst estimates, with a revenue of $1.28 billion, a 20.2% increase year-over-year.
• The stock has received multiple analyst upgrades, with target prices raised by firms such as Wells Fargo and Mizuho, indicating a potential strong market performance and an average target price of $364.33.

Swedbank AB increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,979,920 shares of the software maker's stock after purchasing an additional 64,514 shares during the period. Cadence Design Systems accounts for about 0.7% of Swedbank AB's holdings, making the stock its 26th biggest position. Swedbank AB owned about 0.73% of Cadence Design Systems worth $610,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in shares of Cadence Design Systems during the 4th quarter valued at $348,000. Merit Financial Group LLC boosted its position in Cadence Design Systems by 42.6% during the 1st quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock worth $805,000 after purchasing an additional 946 shares during the period. Novem Group boosted its position in Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker's stock worth $1,034,000 after purchasing an additional 945 shares during the period. Seilern Investment Management Ltd purchased a new stake in Cadence Design Systems during the 1st quarter worth $64,800,000. Finally, Integrated Advisors Network LLC lifted its holdings in Cadence Design Systems by 156.9% in the 4th quarter. Integrated Advisors Network LLC now owns 3,406 shares of the software maker's stock worth $1,023,000 after buying an additional 2,080 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Trading Up 2.3%

NASDAQ CDNS traded up $8.47 during trading on Friday, reaching $373.35. 5,003,397 shares of the stock traded hands, compared to its average volume of 1,607,091. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock's 50-day moving average price is $346.27 and its 200 day moving average price is $306.53. The firm has a market cap of $101.73 billion, a price-to-earnings ratio of 100.91, a price-to-earnings-growth ratio of 4.90 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly 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. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business earned $1.28 EPS. The company'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. Analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's 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 transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,180 shares of company stock worth $1,069,232. Corporate insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday. Rosenblatt Securities reiterated a "neutral" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Friday, July 25th. KeyCorp increased their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Loop Capital increased their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Twelve equities 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $364.33.

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.