JLB & Associates Inc. Has $649,000 Stake in Cadence Design Systems, Inc. $CDNS

JLB & Associates Inc. lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,107 shares of the software maker’s stock after selling 786 shares during the quarter. JLB & Associates Inc.’s holdings in Cadence Design Systems were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Cadence Design Systems in the first quarter worth $289,744,000. Jennison Associates LLC grew its stake 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 purchasing an additional 1,054,702 shares during the period. Assenagon Asset Management S.A. increased its holdings in Cadence Design Systems by 466.4% during the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after buying an additional 647,931 shares during the last quarter. Vanguard Group Inc. lifted 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 valued at $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Cadence Design Systems by 7.1% during 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 acquiring an additional 312,757 shares during the period. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CDNS. Mizuho raised their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Needham & Company LLC raised their target price on Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Wells Fargo & Company lifted their target price 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 increased their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Robert W. Baird raised their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $364.33.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $348.52 on Tuesday. The company’s fifty day moving average price is $351.14 and its 200-day moving average price is $311.91. 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 capitalization of $94.97 billion, a price-to-earnings ratio of 94.19, a PEG ratio of 4.59 and a beta of 1.00. Cadence Design Systems, Inc. has a one year low of $221.56 and a one 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 the consensus estimate of $1.56 by $0.09. The company 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%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous 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 research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director owned 7,830 shares in the company, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the transaction, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,180 shares of company stock worth $762,882. 1.99% of the stock is currently owned by insiders.

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.