BlackRock Amends Cadence Design Systems Stake (17th Update)
Ticker: CDNS · Form: SC 13G/A · Filed: 2024-01-31T00:00:00.000Z
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.
From the Filing
EDGAR Filing Documents for 0001086364-24-006077 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-006077 Filing Date 2024-01-31 Accepted 2024-01-31 16:47:24 Documents 1 Document Format Files Seq Description Document Type Size 1 us1273871087_013124.txt SC 13G/A 12067 Complete submission text file 0001086364-24-006077.txt 13942 Mailing Address 2655 SEELY AVENUE SAN JOSE CA 95134 Business Address 2655 SEELY AVENUE BLDG 5 SAN JOSE CA 95134 4089431234 CADENCE DESIGN SYSTEMS INC (Subject) CIK : 0000813672 (see all company filings) EIN. : 770148231 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-39240 | Film No.: 24583555 SIC : 7372 Services-Prepackaged Software (CF Office: 06 Technology) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)