Geode Capital Management LLC Increases Stock Holdings in Cadence Design Systems, Inc. $CDNS

Geode Capital Management LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,363,734 shares of the software maker’s stock after acquiring an additional 77,478 shares during the quarter. Geode Capital Management LLC owned approximately 2.34% of Cadence Design Systems worth $1,952,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nuveen LLC purchased a new stake in Cadence Design Systems during the 1st quarter worth approximately $289,744,000. Jennison Associates LLC increased its position in shares of Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after acquiring an additional 1,054,702 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Cadence Design Systems by 466.4% in the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after acquiring an additional 647,931 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 purchasing an additional 312,757 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $315.35 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The stock has a market capitalization of $85.84 billion, a P/E ratio of 81.28, a P/E/G ratio of 4.55 and a beta of 1.00. The company’s fifty day moving average is $342.80 and its two-hundred day moving average is $329.32. 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 released its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $1.64 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director directly 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 sale 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 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 sale, the vice president owned 102,499 shares of the company’s stock, valued at approximately $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 16,230 shares of company stock worth $5,530,682. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CDNS. Loop Capital increased their price target on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wolfe Research reissued an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

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.