Massachusetts Financial Services Co. MA Has $1.87 Billion Stock Holdings in Cadence Design Systems, Inc. $CDNS

Massachusetts Financial Services Co. MA grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,314,407 shares of the software maker’s stock after buying an additional 731,788 shares during the period. Massachusetts Financial Services Co. MA owned 1.95% of Cadence Design Systems worth $1,866,739,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after buying an additional 676 shares during the period. Integrated Wealth Concepts LLC increased its stake in Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after purchasing an additional 80 shares in the last quarter. Fulton Bank N.A. lifted its holdings in Cadence Design Systems by 9.1% during the second quarter. Fulton Bank N.A. now owns 1,124 shares of the software maker’s stock worth $346,000 after acquiring an additional 94 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Cadence Design Systems by 4.3% in the second quarter. Trust Point Inc. now owns 1,065 shares of the software maker’s stock valued at $328,000 after buying an additional 44 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Cadence Design Systems by 466.4% during the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after buying an additional 647,931 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CDNS shares. BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective on the stock in a report on Monday, December 1st. JPMorgan Chase & Co. raised their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report 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. Finally, Wells Fargo & Company increased their price target on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $380.72.

Cadence Design Systems Stock Down 1.0%

NASDAQ CDNS opened at $317.45 on Friday. The business has a fifty day moving average price of $317.57 and a two-hundred day moving average price of $333.58. The stock has a market capitalization of $86.41 billion, a PE ratio of 81.82, a PEG ratio of 3.54 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same period in the prior 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. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 195,844 shares in the company, valued at approximately $66,586,960. This represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the sale, the director owned 7,650 shares in the company, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,025 shares of company stock worth $20,369,946 over the last 90 days. 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.