Cadence Design Systems, Inc. $CDNS Stock Holdings Lifted by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in Cadence Design Systems by 8.9%, owning 52,755 shares valued at approximately $16.26 million, making it the firm's 25th largest holding.
• Several large investors have recently acquired new positions or increased their stakes in Cadence Design Systems, with institutional investors controlling 84.85% of the stock.
• Analysts are optimistic about Cadence Design Systems, with a consensus average price target of $368.53 and fourteen analysts giving the stock a "buy" rating.

Shell Asset Management Co. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,755 shares of the software maker's stock after purchasing an additional 4,302 shares during the quarter. Cadence Design Systems accounts for 0.6% of Shell Asset Management Co.'s investment portfolio, making the stock its 25th biggest holding. Shell Asset Management Co.'s holdings in Cadence Design Systems were worth $16,256,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CDNS. Smallwood Wealth Investment Management LLC acquired a new position in shares of Cadence Design Systems in the first quarter worth $25,000. Costello Asset Management INC acquired a new position in shares of Cadence Design Systems in the first quarter worth $25,000. Saudi Central Bank acquired a new position in shares of Cadence Design Systems in the first quarter worth $27,000. Valley National Advisers Inc. boosted its holdings in Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares in the last quarter. Finally, Barrett & Company Inc. bought a new stake in Cadence Design Systems in the second quarter worth $31,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CDNS shares. The Goldman Sachs Group started coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a "neutral" rating and set a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. BNP Paribas initiated coverage on shares of Cadence Design Systems in a report on Thursday. They set an "outperform" rating and a $400.00 price target for the company. Finally, Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $368.53.

Insider Activity

In related news, 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 transaction of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares of the company's stock, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,680 shares of company stock valued at $3,729,852. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

CDNS stock opened at $353.36 on Tuesday. The company has a 50 day moving average price of $353.43 and a 200 day moving average price of $315.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market capitalization of $96.29 billion, a PE ratio of 95.50, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced 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. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.

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