Ilmarinen Mutual Pension Insurance Co Cuts Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Cadence Design Systems by 21.7% during the 1st quarter, leaving it with 45,000 shares valued at approximately $11.4 million.
• In Q2, Cadence Design Systems reported earnings of $1.65 per share, exceeding analysts' expectations, with a revenue increase of 20.2% year-over-year to $1.28 billion.
• Cadence has a strong institutional ownership of 84.85%, and various analysts maintain a Moderate Buy rating with price target estimates averaging $364.33.

Ilmarinen Mutual Pension Insurance Co decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the software maker's stock after selling 12,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Cadence Design Systems were worth $11,445,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Advisory Alpha LLC lifted its position in Cadence Design Systems by 43.7% in the first quarter. Advisory Alpha LLC now owns 1,213 shares of the software maker's stock valued at $309,000 after purchasing an additional 369 shares during the last quarter. SCS Capital Management LLC bought a new stake in Cadence Design Systems in the first quarter valued at approximately $243,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cadence Design Systems by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock valued at $1,202,733,000 after purchasing an additional 312,757 shares during the last quarter. Optimize Financial Inc lifted its position in Cadence Design Systems by 12.1% in the first quarter. Optimize Financial Inc now owns 7,728 shares of the software maker's stock valued at $1,965,000 after purchasing an additional 837 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Cadence Design Systems by 2.5% in the first quarter. Empowered Funds LLC now owns 15,076 shares of the software maker's stock valued at $3,834,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Up 0.3%

Shares of NASDAQ:CDNS opened at $361.77 on Wednesday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The stock's fifty day moving average price is $341.37 and its 200-day moving average price is $300.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market cap of $98.58 billion, a P/E ratio of 97.78, a PEG ratio of 4.73 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems's revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the sale, the vice president owned 102,499 shares of the company's stock, valued at $35,254,531.05. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,000 shares of company stock worth $1,311,020 in the last three months. Company insiders own 0.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CDNS shares. Wall Street Zen cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, August 31st. Loop Capital boosted their target price on Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Robert W. Baird boosted their target price on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. 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. Finally, 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. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $364.33.

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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