Cadence Design Systems, Inc. $CDNS Stock Position Decreased by Candriam S.C.A.

Key Points

• Candriam S.C.A. has reduced its stake in Cadence Design Systems by 4.8%, now holding 282,980 shares valued at approximately $71.97 million.
• Several institutional investors have increased their positions, with Vanguard Group Inc. growing its holdings by 1.7% and Jennison Associates LLC by 13.2% in the first quarter.
• Wall Street analysts have mixed sentiments, with a consensus rating of "Moderate Buy" and updated price targets ranging from $355.00 to $390.00 for Cadence Design Systems' stock.

Candriam S.C.A. lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 282,980 shares of the software maker's stock after selling 14,408 shares during the period. Candriam S.C.A. owned 0.10% of Cadence Design Systems worth $71,970,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Jennison Associates LLC grew its position in Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after purchasing an additional 1,054,702 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cadence Design Systems by 10.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock worth $1,326,912,000 after purchasing an additional 427,418 shares during the last quarter. Northern Trust Corp grew its position in Cadence Design Systems by 16.1% in the 4th quarter. Northern Trust Corp now owns 3,032,957 shares of the software maker's stock worth $911,282,000 after purchasing an additional 421,507 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cadence Design Systems by 25.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,937,675 shares of the software maker's stock worth $882,655,000 after purchasing an additional 601,834 shares during the last quarter. Institutional investors own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CDNS. Wall Street Zen cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Loop Capital upped 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 note on Tuesday, July 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Mizuho upped their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, Needham & Company LLC upped their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the transaction, the director owned 8,010 shares in the company, valued at approximately $2,435,040. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were 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. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,830 shares of company stock valued at $1,207,671. Insiders own 0.37% of the company's stock.

Cadence Design Systems Trading Down 2.6%

Cadence Design Systems stock opened at $346.88 on Wednesday. The company has a 50 day moving average price of $326.80 and a 200 day moving average price of $294.79. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week 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 has a market capitalization of $94.52 billion, a price-to-earnings ratio of 93.75, a P/E/G ratio of 4.67 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business posted $1.28 EPS. The company's 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. Research 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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