Teacher Retirement System of Texas Has $30.93 Million Stake in Cadence Design Systems, Inc. $CDNS

Teacher Retirement System of Texas raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 88,040 shares of the software maker’s stock after acquiring an additional 17,577 shares during the period. Teacher Retirement System of Texas’ holdings in Cadence Design Systems were worth $30,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the second quarter valued at $31,000. Strategic Wealth Investment Group LLC acquired a new stake in Cadence Design Systems during the 2nd quarter worth about $32,000. Promus Capital LLC acquired a new stake in Cadence Design Systems during the 2nd quarter worth about $33,000. Robbins Farley acquired a new stake in Cadence Design Systems during the 3rd quarter worth about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in Cadence Design Systems by 41.1% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $318.32 on Friday. The firm has a 50 day moving average of $317.17 and a two-hundred day moving average of $333.24. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a market capitalization of $86.65 billion, a price-to-earnings ratio of 82.04, a P/E/G ratio of 3.54 and a beta of 1.02. 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 (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 business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. Cadence Design Systems’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. 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, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, BNP Paribas Exane started coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $379.59.

Insiders Place Their Bets

In related news, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the transaction, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. This trade represents a 28.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,025 shares of company stock valued at $20,369,946 in the last three months. Company insiders own 1.99% of the company’s stock.

About Cadence Design Systems

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.