Intech Investment Management LLC Has $3.19 Million Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Intech Investment Management LLC has reduced its stake in Cadence Design Systems, Inc. by 44.8% in Q1, now holding shares worth $3.19 million after selling a significant number of shares.
• Cadence Design Systems has received upgraded target prices from multiple analysts, with JPMorgan Chase & Co. and Needham & Company LLC raising their targets to $390, indicating strong market confidence.
• The company reported a 20.2% year-over-year revenue increase for Q2, reaching $1.28 billion, exceeding analysts' forecasts and demonstrating solid financial performance.

Intech Investment Management LLC decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 44.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,545 shares of the software maker's stock after selling 10,191 shares during the quarter. Intech Investment Management LLC's holdings in Cadence Design Systems were worth $3,191,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.7% in the first 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 period. Jennison Associates LLC grew its holdings 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 valued at $2,305,489,000 after buying an additional 1,054,702 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cadence Design Systems by 7.1% in the 1st 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 worth $1,202,733,000 after buying an additional 312,757 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cadence Design Systems by 10.7% during the fourth 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 buying an additional 427,418 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after acquiring an additional 296,983 shares during the period. 84.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

CDNS has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Needham & Company LLC raised their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Piper Sandler restated a "neutral" rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the firm's 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 completion of the transaction, the director directly owned 7,830 shares of the company's stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,180 shares of company stock valued at $1,069,232. Insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $343.48 on Friday. The stock has a 50-day simple moving average of $342.75 and a 200 day simple moving average of $302.64. The stock has a market capitalization of $93.59 billion, a price-to-earnings ratio of 92.83, a P/E/G ratio of 4.65 and a beta of 1.00. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the previous year, the company earned $1.28 EPS. Cadence Design Systems'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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems Company 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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