KLP Kapitalforvaltning AS Grows Stake in Cadence Design Systems, Inc. $CDNS

KLP Kapitalforvaltning AS boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,600 shares of the software maker’s stock after purchasing an additional 22,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Cadence Design Systems were worth $37,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC bought a new stake in Cadence Design Systems during the 1st quarter valued at $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems during the 1st quarter valued at $25,000. Barrett & Company Inc. bought a new stake in Cadence Design Systems during the 2nd quarter valued at $31,000. Saudi Central Bank bought a new stake in Cadence Design Systems during the 1st quarter valued at $27,000. Finally, Valley National Advisers Inc. boosted its position in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after acquiring an additional 99 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CDNS. BNP Paribas began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a research report on Wednesday, July 30th. Needham & Company LLC increased their target price on Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Robert W. Baird raised 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. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the sale, the vice president owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $60,211.80. Following the sale, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,680 shares of company stock valued at $3,729,852. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 2.2%

Cadence Design Systems stock opened at $345.48 on Wednesday. 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 stock has a market capitalization of $94.14 billion, a price-to-earnings ratio of 93.37, a PEG ratio of 4.63 and a beta of 0.99. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The business has a fifty day moving average price of $353.01 and a 200-day moving average price of $315.36.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping 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 company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm 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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems 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.