4,258 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Tema Etfs LLC

Tema Etfs LLC bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,258 shares of the software maker’s stock, valued at approximately $1,496,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC increased its stake in Cadence Design Systems by 160.1% during the 3rd quarter. MorganRosel Wealth Management LLC now owns 2,627 shares of the software maker’s stock worth $923,000 after buying an additional 1,617 shares during the period. New York State Teachers Retirement System lifted its stake in Cadence Design Systems by 1.8% during the third quarter. New York State Teachers Retirement System now owns 214,166 shares of the software maker’s stock worth $75,228,000 after purchasing an additional 3,801 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Cadence Design Systems by 6.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,429 shares of the software maker’s stock valued at $12,445,000 after purchasing an additional 2,172 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Cadence Design Systems by 32.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 31,166 shares of the software maker’s stock valued at $10,947,000 after purchasing an additional 7,632 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Cadence Design Systems by 7.3% during the third quarter. Capital Investment Advisors LLC now owns 7,681 shares of the software maker’s stock worth $2,698,000 after purchasing an additional 524 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $325.51 on Tuesday. The company has a market cap of $88.60 billion, a P/E ratio of 83.89, a PEG ratio of 3.65 and a beta of 1.02. The business has a 50 day moving average of $318.30 and a two-hundred day moving average of $333.45. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. 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. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the sale, the director directly owned 7,650 shares of the company’s stock, valued at $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s 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 owned 96,067 shares in the company, valued at approximately $30,328,351.90. The trade was a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 62,025 shares of company stock worth $20,369,946. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Citigroup initiated coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Finally, KeyCorp reiterated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $380.72.

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.