Swedbank AB Sells 20,476 Shares of Cadence Design Systems, Inc. $CDNS

Swedbank AB reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,959,444 shares of the software maker’s stock after selling 20,476 shares during the period. Cadence Design Systems accounts for approximately 0.7% of Swedbank AB’s holdings, making the stock its 25th largest position. Swedbank AB’s holdings in Cadence Design Systems were worth $688,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new position in shares of Cadence Design Systems in the 1st quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems in the second quarter valued at about $31,000. Strategic Wealth Investment Group LLC acquired a new stake in Cadence Design Systems in the second quarter valued at about $32,000. Promus Capital LLC bought a new position in Cadence Design Systems in the second quarter valued at about $33,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after acquiring an additional 37 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective for the company. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday, December 15th. Finally, BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.11.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $316.93 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market cap of $86.27 billion, a PE ratio of 81.68, a price-to-earnings-growth ratio of 4.08 and a beta of 1.05. The firm’s fifty day moving average is $323.57 and its 200-day moving average is $331.85.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company 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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction that occurred 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 represents a 21.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 69,525 shares of company stock valued at $23,021,216 over the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

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.