Cadence Design Systems, Inc. $CDNS Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 32.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,166 shares of the software maker’s stock after purchasing an additional 7,632 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cadence Design Systems were worth $10,947,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Cadence Design Systems by 1.0% during the second quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock valued at $8,195,515,000 after acquiring an additional 256,719 shares during the last quarter. State Street Corp increased its holdings in Cadence Design Systems by 1.4% in the 2nd quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after purchasing an additional 172,551 shares during the last quarter. Jennison Associates LLC raised its position in Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after purchasing an additional 273,149 shares during the period. Geode Capital Management LLC lifted its stake in Cadence Design Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after purchasing an additional 77,478 shares in the last quarter. Finally, Norges Bank acquired a new position in Cadence Design Systems during the second quarter worth $1,190,618,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 5,490 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the sale, the vice president directly owned 20,321 shares in the company, valued at $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $315.70, for a total value of $315,700.00. Following the sale, the vice president directly owned 96,067 shares of the company’s stock, valued at $30,328,351.90. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 62,025 shares of company stock worth $20,369,946. 1.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. BNP Paribas Exane started coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Citigroup initiated coverage on Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 target price for the company. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $327.31 on Friday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The stock has a market capitalization of $89.09 billion, a PE ratio of 84.36, a PEG ratio of 3.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a 50-day simple moving average of $318.49 and a 200-day simple moving average of $332.80.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping 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 firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The business’s quarterly 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. On average, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems Company Profile

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.