Proshare Advisors Reduces $32M in Cadence Design Systems, Inc. ($CDNS)
Key Points
- Proshare Advisors changed its Cadence Design Systems, Inc. ($CDNS) stake by 17.3% last quarter, cutting to 400,738 shares worth $152.10 million.
- Wall Street's consensus rating on $CDNS is Strong Buy and an average price target of $385.37.
- $CDNS last traded around $379.54.
Proshare Advisors reduced its position in Cadence Design Systems, Inc. ($CDNS) by 17.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,738 shares of Cadence Design Systems, Inc. after selling 83,859 shares during the quarter. Proshare Advisors's holdings in Cadence Design Systems, Inc. were worth $152.10 million as of its most recent filing.
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About Cadence Design Systems, Inc.
Cadence Design Systems, Inc. develops computational, AI-driven software, hardware, and silicon intellectual property products and solutions. The company offers functional verification services, such as Jasper, a formal verification platform; Xcelium, a parallel logic simulation platform; Verisium, a generative AI solution; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification, as well as digital IC design and sign off products, including In novus platform; and custom IC design and simulation product include Virtuoso, a platform to design and verify analog. It also provides Xcelium logic simulator and other front-end verification and virtual prototyping technologies; controllers and physical interfaces; PCI Express, universal accelerator and compute express links, and multiple memory interfaces; and Ten Silica, a digital signal processor. In addition, the company's design IP portfolio includes serializer/deserializer, peripheral component interconnect, USB, and other standard protocols; and Secure-IC, a solution for embedded security IP. Additionally, it provides System Design and Analysis (SD&A) platform, a solution that enables end-to-end system-level design and verification across chips, packages, PCBs, and electronic systems; Allegro X and Orca X platforms for PCB and advanced packaging; Sigrity X for signal and power integrity; AIR for RF design; Fidelity for computational fluid dynamics; Celsius for thermal and airflow analysis; Clarity 3D solver for electromagnetic and power electronics analysis and simulation; Integrity 3D-IC solution for 3D-IC and multi-chiplet designs; the Optimality Intelligent System Explorer, Reality digital twin, and Millennium enterprise multiphasic platforms; Allegro system design platform; and molecular modeling and simulation solutions and services. The company has a strategic collaboration with NVIDIA. The company was incorporated in 1987 and is headquartered in San Jose, California.
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