BlackRock Amends Cadence Design Systems Stake (17th Update)
Ticker: CDNS · Form: SC 13G/A · Filed: Jan 31, 2024 · CIK: 813672
| Field | Detail |
|---|---|
| Company | Cadence Design Systems Inc (CDNS) |
| Form Type | SC 13G/A |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**BlackRock still owns a big chunk of Cadence Design Systems, signaling continued institutional confidence.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 31, 2024, indicating a change in its ownership of Cadence Design Systems Inc. common stock as of December 31, 2023. This amendment, the 17th for BlackRock, shows that the investment giant continues to hold a significant stake in Cadence. For investors, this filing confirms BlackRock's ongoing confidence in Cadence Design Systems, suggesting that a major institutional investor still sees value in the company's stock.
Why It Matters
This filing shows BlackRock, a major institutional investor, continues to hold a significant position in Cadence Design Systems, signaling their ongoing belief in the company's prospects. It's a vote of confidence from a powerful player.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate negative or positive risk to the stock.
Analyst Insight
A smart investor would note BlackRock's continued presence as a major shareholder, which can be a positive signal, but would also conduct their own due diligence on Cadence Design Systems' fundamentals and future prospects rather than solely relying on institutional ownership.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person filing the SC 13G/A
- Cadence Design Systems Inc. (company) — the subject company whose shares are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 31, 2024 (date) — the date the SC 13G/A was filed
- 17 (number) — the amendment number for this filing
Forward-Looking Statements
- BlackRock will maintain a significant, but potentially fluctuating, stake in Cadence Design Systems Inc. throughout 2024. (BlackRock Inc.) — high confidence, target: 2024-12-31
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G (Amendment No: 17)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., as indicated under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.'.
What is the subject company whose shares are being reported?
The subject company is CADENCE DESIGN SYSTEMS INC, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CADENCE DESIGN SYSTEMS INC'.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of Cadence Design Systems Inc. is 127387108, as listed in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 31, 2024 regarding CADENCE DESIGN SYSTEMS INC (CDNS).