MetLife Investment Management LLC Trims Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• MetLife Investment Management LLC has reduced its stake in Cadence Design Systems by 1.8%, now holding 83,071 shares valued at approximately $21.1 million.
• Other institutional investors significantly increased their holdings, with GAMMA Investing LLC raising its stake by over 31,000% to 1.2 million shares worth about $309.8 million.
• Cadence reported an EPS of $1.65 in its most recent quarter, exceeding analysts' estimates, alongside revenue of $1.28 billion, which marked a 20.2% year-over-year increase.

MetLife Investment Management LLC cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,071 shares of the software maker's stock after selling 1,508 shares during the period. MetLife Investment Management LLC's holdings in Cadence Design Systems were worth $21,127,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CDNS. GAMMA Investing LLC raised its stake in Cadence Design Systems by 31,049.1% during the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock worth $309,835,000 after purchasing an additional 1,214,330 shares during the period. Nuveen LLC purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at approximately $289,744,000. Jennison Associates LLC raised its stake in shares of 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 acquiring an additional 1,054,702 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 valued at $6,698,834,000 after acquiring an additional 429,955 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 valued at $1,326,912,000 after acquiring an additional 427,418 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the sale, the director directly owned 8,010 shares of the company's stock, valued at approximately $2,435,040. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 104,499 shares in the company, valued at approximately $37,485,881.28. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,830 shares of company stock worth $1,207,671. Insiders own 0.37% of the company's stock.

Cadence Design Systems Price Performance

Shares of CDNS opened at $349.63 on Monday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm's 50 day moving average price is $329.35 and its 200 day moving average price is $295.73. The company has a market cap of $95.27 billion, a P/E ratio of 94.49, a PEG ratio of 4.59 and a beta of 0.97. 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 (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $1.28 EPS. The company's quarterly revenue was up 20.2% compared to the same quarter last year. 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 forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Loop Capital boosted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Bank of America boosted their price objective on Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. KeyCorp boosted their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Mizuho boosted their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Twelve research 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's stock. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of "Moderate Buy" and a consensus target price of $364.33.

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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