Allspring Global Investments Holdings LLC Has $186.22 Million Position in Cadence Design Systems, Inc. $CDNS

Allspring Global Investments Holdings LLC cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 601,772 shares of the software maker’s stock after selling 5,506 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cadence Design Systems were worth $186,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Index Fund Advisors Inc. acquired a new position in Cadence Design Systems during the 2nd quarter worth about $275,000. Clarendon Private LLC acquired a new position in Cadence Design Systems during the 2nd quarter worth about $381,000. CWM LLC lifted its holdings in Cadence Design Systems by 69.0% during the 2nd quarter. CWM LLC now owns 12,247 shares of the software maker’s stock worth $3,774,000 after buying an additional 5,002 shares during the period. OFI Invest Asset Management raised its position in shares of Cadence Design Systems by 71.2% in the 2nd quarter. OFI Invest Asset Management now owns 404 shares of the software maker’s stock worth $124,000 after acquiring an additional 168 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Cadence Design Systems by 23.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,285 shares of the software maker’s stock worth $13,648,000 after acquiring an additional 8,510 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CDNS shares. KeyCorp lifted their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Robert W. Baird lifted their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Cadence Design Systems in a research report on Thursday, July 10th. They issued a “buy” rating and a $380.00 price objective for the company. Finally, BNP Paribas started coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $327.00 on Monday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm has a market capitalization of $89.10 billion, a price-to-earnings ratio of 88.38, a PEG ratio of 4.29 and a beta of 0.99. The business has a 50-day simple moving average of $351.68 and a 200 day simple moving average of $317.30. 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) last issued its earnings results 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 return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $1.28 EPS. The firm’s 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 anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock valued at $3,729,852 in the last three months. Corporate insiders own 0.37% of the company’s stock.

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.