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Cadence Design Systems, Inc. $CDNS Shares Sold by Lansforsakringar Fondforvaltning AB publ

Cadence Design Systems logo with Computer and Technology background

Key Points

  • Lansforsakringar Fondforvaltning AB reduced its holdings in Cadence Design Systems by 4.6%, owning 88,695 shares valued at approximately $22.56 million as of the latest SEC filing.
  • Cadence Design Systems received several positive ratings from analysts, with target prices ranging from $300 to $405, reflecting a consensus rating of "Moderate Buy" and an average target of $364.33.
  • Cadence Design Systems reported a 20.2% increase in quarterly revenue year-over-year, reaching $1.28 billion, along with an EPS of $1.65, surpassing expectations by $0.09.
  • Looking to export and analyze Cadence Design Systems data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Lansforsakringar Fondforvaltning AB publ lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,695 shares of the software maker's stock after selling 4,247 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Cadence Design Systems were worth $22,558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDNS. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the first quarter worth approximately $25,000. Costello Asset Management INC purchased a new stake in Cadence Design Systems in the 1st quarter valued at $25,000. Valley National Advisers Inc. boosted its stake in 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 purchasing an additional 99 shares during the period. Ancora Advisors LLC grew its position in Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after purchasing an additional 112 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in 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 purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CDNS shares. Needham & Company LLC upped their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Friday, July 25th. Piper Sandler reaffirmed a "neutral" rating and set a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price on the stock. Finally, KeyCorp upped their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average price target of $364.33.

Check Out Our Latest Report on Cadence Design Systems

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $354.29 on Friday. The stock has a market capitalization of $96.54 billion, a price-to-earnings ratio of 95.75, a PEG ratio of 4.55 and a beta of 0.97. The business's 50 day moving average is $333.29 and its two-hundred day moving average is $297.06. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. 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. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the firm earned $1.28 EPS. The company'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. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the sale, the director owned 8,010 shares of the company's stock, valued at approximately $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president owned 104,499 shares in the company, valued at $37,485,881.28. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,207,671 over the last 90 days. Insiders own 1.99% of the company's stock.

Cadence Design Systems Profile

(Free Report)

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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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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