Navera Investment Management Ltd. Sells 8,599 Shares of Cadence Design Systems, Inc. $CDNS

Navera Investment Management Ltd. lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 812,731 shares of the software maker’s stock after selling 8,599 shares during the period. Cadence Design Systems makes up 5.5% of Navera Investment Management Ltd.’s holdings, making the stock its 8th biggest holding. Navera Investment Management Ltd.’s holdings in Cadence Design Systems were worth $285,514,000 as of its most recent SEC filing.

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

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $317.45 on Friday. The stock has a market capitalization of $86.41 billion, a P/E ratio of 81.82, a P/E/G ratio of 3.54 and a beta of 1.02. The company’s fifty day moving average price is $317.57 and its 200 day moving average price is $333.58. 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 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted 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. 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%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm 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, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 5,490 shares of Cadence Design Systems 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 sale, the vice president owned 20,321 shares of the company’s stock, valued at $6,897,557.03. The trade was a 21.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $315.70, for a total transaction of $315,700.00. Following the sale, the vice president directly owned 96,067 shares of the company’s stock, valued at $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. Insiders sold 62,025 shares of company stock worth $20,369,946 in the last quarter. Corporate insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup assumed coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Rosenblatt Securities lifted their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a research report on Monday, December 1st. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.