JARISLOWSKY FRASER Ltd Sells 2,671 Shares of Cadence Design Systems, Inc. $CDNS

JARISLOWSKY FRASER Ltd trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,436 shares of the software maker’s stock after selling 2,671 shares during the period. JARISLOWSKY FRASER Ltd owned 0.11% of Cadence Design Systems worth $106,585,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cadence Design Systems during the second quarter valued at about $1,190,618,000. Assenagon Asset Management S.A. boosted its stake in Cadence Design Systems by 466.4% during 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 buying an additional 647,931 shares during the last quarter. Voya Investment Management LLC grew its holdings in Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after buying an additional 622,934 shares in the last quarter. Scge Management L.P. bought a new stake in Cadence Design Systems in the 2nd quarter worth approximately $187,663,000. Finally, Bain Capital Public Equity Management II LLC bought a new stake in Cadence Design Systems in the 2nd quarter worth approximately $130,534,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDNS. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Robert W. Baird upped their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. BNP Paribas initiated coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Finally, Wolfe Research reissued an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Trading Down 0.7%

Shares of NASDAQ:CDNS opened at $310.40 on Friday. The business’s 50 day moving average price is $321.02 and its 200-day moving average price is $332.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The firm has a market capitalization of $84.49 billion, a price-to-earnings ratio of 80.00, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company’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. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 27,805 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the sale, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ita M. Brennan sold 180 shares of the business’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 sale, the director directly owned 7,650 shares in the company, valued at approximately $2,581,722. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,025 shares of company stock worth $20,054,246 over the last three months. Insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.