Cadence Design Systems, Inc. $CDNS Stock Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB increased its stake in Cadence Design Systems by 4.4%, now holding 1,915,406 shares, which is valued at approximately $487 million.
• Cadence Design Systems reported a quarterly EPS of $1.65, exceeding estimates of $1.56, with a revenue of $1.28 billion, marking a 20.2% year-over-year increase.
• Analysts have provided strong outlooks for Cadence Design Systems, with an average consensus target price of $364.33 and a majority rating it as a "Buy".

Swedbank AB boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,915,406 shares of the software maker's stock after purchasing an additional 81,242 shares during the period. Cadence Design Systems accounts for 0.6% of Swedbank AB's investment portfolio, making the stock its 29th biggest holding. Swedbank AB owned 0.70% of Cadence Design Systems worth $487,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC grew its position in Cadence Design Systems by 2.8% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker's stock worth $309,000 after purchasing an additional 33 shares in the last quarter. Empower Advisory Group LLC grew its position in Cadence Design Systems by 4.1% during the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock worth $232,000 after purchasing an additional 36 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Cadence Design Systems by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker's stock valued at $3,392,000 after acquiring an additional 36 shares in the last quarter. Principal Street Partners LLC grew its holdings in shares of Cadence Design Systems by 2.6% during the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after acquiring an additional 37 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock valued at $1,476,000 after acquiring an additional 39 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDNS has been the topic of several research analyst reports. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 30th. Mizuho upped their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. KeyCorp upped their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Needham & Company LLC upped their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Robert W. Baird increased their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Twelve investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $364.33.

Cadence Design Systems Trading Up 4.8%

CDNS opened at $354.70 on Friday. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The firm's fifty day moving average is $342.45 and its two-hundred day moving average is $301.66. The firm has a market cap of $96.65 billion, a PE ratio of 95.87, a price-to-earnings-growth ratio of 4.44 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business posted $1.28 earnings per share. The firm's quarterly revenue was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 3,000 shares of company stock valued at $1,009,020. 1.99% of the stock is currently owned by corporate insiders.

About Cadence Design Systems

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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