Great Lakes Advisors LLC Raises Position in Cadence Design Systems, Inc. $CDNS

Great Lakes Advisors LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,311 shares of the software maker’s stock after purchasing an additional 43 shares during the period. Great Lakes Advisors LLC’s holdings in Cadence Design Systems were worth $3,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CDNS. Vanguard Group Inc. increased its position in Cadence Design Systems by 1.7% during the 1st 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 boosted its stake in shares of 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 valued at $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 427,418 shares during the period. Invesco Ltd. grew its holdings in Cadence Design Systems by 14.0% during the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after acquiring an additional 296,983 shares during the period. Finally, Principal Financial Group Inc. raised its position in Cadence Design Systems by 0.4% in the first quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker’s stock worth $571,208,000 after acquiring an additional 8,361 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $338.53 on Thursday. 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 firm has a market cap of $92.25 billion, a PE ratio of 91.49, a P/E/G ratio of 4.74 and a beta of 1.00. The firm has a 50 day simple moving average of $341.92 and a 200-day simple moving average of $300.96. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion for 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 quarter last year, the business 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. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,000 shares of company stock valued at $1,311,020 over the last ninety days. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Mizuho boosted their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 30th. Loop Capital lifted 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 report on Tuesday, July 29th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.