Pacer Advisors Inc. Raises Position in Cadence Design Systems, Inc. $CDNS

Pacer Advisors Inc. lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 83.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 182,348 shares of the software maker’s stock after acquiring an additional 82,856 shares during the period. Pacer Advisors Inc.’s holdings in Cadence Design Systems were worth $64,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDNS. Vanguard Group Inc. lifted its position in 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 worth $8,195,515,000 after buying an additional 256,719 shares during the period. State Street Corp grew 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 buying an additional 172,551 shares during the period. Jennison Associates LLC increased its stake in shares of Cadence Design Systems by 3.0% during the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after acquiring an additional 273,149 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after acquiring an additional 77,478 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after acquiring an additional 312,757 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 27,805 shares of the business’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 transaction, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. The trade was a 28.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the transaction, the vice president directly owned 97,067 shares of the company’s stock, valued at approximately $30,347,026.88. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,525 shares of company stock worth $23,021,216 over the last three months. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CDNS. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday, December 15th. 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 increased their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Monday. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $317.58 on Friday. The business’s 50-day simple moving average is $323.31 and its 200 day simple moving average is $331.65. The company has a market cap of $86.44 billion, a P/E ratio of 81.85, a PEG ratio of 4.09 and a beta of 1.05. 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 one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $1.64 earnings per share. Cadence Design Systems’s revenue for the quarter was up 10.1% on a year-over-year basis. 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, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.