Plato Investment Management Ltd Decreases Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Plato Investment Management Ltd reduced its stake in Cadence Design Systems by 14.8%, bringing their total holdings to 7,675 shares, valued at approximately $1.97 million.
• Major investors, including Vanguard Group Inc. and Jennison Associates LLC, have increased their stakes, with Vanguard owning over 26 million shares worth nearly $6.7 billion.
• Cadence Design Systems recently reported a 20.2% increase in revenue year-over-year, totaling $1.28 billion, and exceeded earnings per share expectations by posting $1.65.

Plato Investment Management Ltd decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,675 shares of the software maker's stock after selling 1,330 shares during the period. Plato Investment Management Ltd's holdings in Cadence Design Systems were worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in 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 increased its stake in Cadence Design Systems by 13.2% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 worth $1,202,733,000 after purchasing an additional 312,757 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cadence Design Systems by 10.7% in 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 purchasing an additional 427,418 shares during the period. Finally, Invesco Ltd. increased its stake in Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock worth $614,534,000 after purchasing an additional 296,983 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction 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. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 4,000 shares of company stock worth $1,311,020 over the last 90 days. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of recent analyst reports. Mizuho increased their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. KeyCorp raised their price target on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Loop Capital raised their price target 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. Stifel Nicolaus raised their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Needham & Company LLC raised their price target on Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $364.33.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $338.53 on Thursday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The stock's 50-day moving average is $341.92 and its 200 day moving average is $300.96. The company has a market cap of $92.25 billion, a P/E ratio of 91.49, a PEG ratio of 4.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued 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. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $1.28 earnings per share. The firm's revenue for the quarter 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. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal 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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