Mirova Buys 2,337 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Mirova has increased its stake in Cadence Design Systems, Inc. by 18.6%, now owning a total of 14,901 shares valued at $3,790,000.
• Multiple institutional investors have recently acquired shares, with Cadence Design Systems currently having 84.85% of its stock owned by institutional investors.
• Wall Street analysts are optimistic about Cadence Design Systems, with an average rating of "Moderate Buy" and a price target of $364.33, reflecting potential growth in the stock.

Mirova raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 18.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,901 shares of the software maker's stock after acquiring an additional 2,337 shares during the quarter. Mirova's holdings in Cadence Design Systems were worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after buying an additional 676 shares in the last quarter. Highview Capital Management LLC DE grew its stake in Cadence Design Systems by 2.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock worth $1,894,000 after buying an additional 163 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of Cadence Design Systems by 179.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 246 shares of the software maker's stock worth $74,000 after acquiring an additional 158 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Cadence Design Systems by 24.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,123 shares of the software maker's stock worth $638,000 after acquiring an additional 411 shares during the last quarter. Finally, Hancock Whitney Corp boosted its stake in shares of Cadence Design Systems by 1.6% in the 4th quarter. Hancock Whitney Corp now owns 5,149 shares of the software maker's stock valued at $1,547,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Stock Down 2.2%

NASDAQ:CDNS traded down $7.81 on Friday, reaching $346.48. 330,330 shares of the stock traded hands, compared to its average volume of 2,006,771. The company has a market capitalization of $94.41 billion, a price-to-earnings ratio of 93.78, a PEG ratio of 4.55 and a beta of 0.97. The company has a current ratio of 2.82, a quick ratio of 2.67 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. The company's fifty day simple moving average is $333.29 and its 200 day simple moving average is $297.06.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. Cadence Design Systems's revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. 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 analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $358.72, for a total transaction of $358,720.00. Following the completion of the transaction, the vice president owned 104,499 shares in the company, valued at $37,485,881.28. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of the company's 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 owned 8,010 shares in the company, valued at approximately $2,435,040. This trade represents a 2.20% 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. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDNS. KeyCorp lifted 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. Loop Capital increased their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target on the stock. Finally, Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $364.33.

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.