Cadence Design Systems, Inc. $CDNS Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,429 shares of the software maker’s stock after acquiring an additional 2,172 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cadence Design Systems were worth $12,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after buying an additional 80 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Cadence Design Systems by 2.5% during the first quarter. Empowered Funds LLC now owns 15,076 shares of the software maker’s stock worth $3,834,000 after buying an additional 368 shares during the last quarter. SCS Capital Management LLC acquired a new position in Cadence Design Systems in the 1st quarter valued at about $243,000. Finally, Integrity Alliance LLC. acquired a new stake in Cadence Design Systems during the 1st quarter worth approximately $270,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at $66,586,960. The trade was a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the sale, the director owned 7,650 shares in the company, valued at approximately $2,581,722. This represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 62,025 shares of company stock worth $20,369,946. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $327.31 on Friday. The firm has a market capitalization of $89.09 billion, a P/E ratio of 84.36, a PEG ratio of 3.65 and a beta of 1.02. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company’s fifty day moving average is $318.49 and its two-hundred day moving average is $333.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $1.64 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup started coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 target price on the stock. Wolfe Research reiterated an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research report on Monday, December 1st. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $379.11.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.