Cadence Design Systems, Inc. $CDNS Holdings Cut by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,271 shares of the software maker's stock after selling 4,024 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Cadence Design Systems were worth $27,358,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in Cadence Design Systems by 120.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker's stock valued at $351,470,000 after buying an additional 615,440 shares during the last quarter. Scge Management L.P. bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $187,663,000. Invesco Ltd. raised its holdings in shares of Cadence Design Systems by 20.4% during the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker's stock valued at $1,033,669,000 after buying an additional 499,009 shares during the last quarter. Close Asset Management Ltd raised its holdings in shares of Cadence Design Systems by 577.5% during the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker's stock valued at $199,088,000 after buying an additional 483,039 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $128,767,000. Institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CDNS. Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 price target on shares of Cadence Design Systems in a report on Friday, April 24th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $375.00 to $400.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Citigroup lifted their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Morgan Stanley cut their price objective on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Finally, Piper Sandler lifted their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.59.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00. Following the sale, the vice president directly owned 33,946 shares in the company, valued at approximately $11,507,694. The trade was a 23.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the completion of the transaction, the director owned 7,470 shares in the company, valued at $2,203,874.10. This represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,180 shares of company stock valued at $12,924,790 in the last ninety days. 0.49% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $338.12 on Wednesday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $376.45. The stock has a market cap of $93.26 billion, a price-to-earnings ratio of 78.82, a PEG ratio of 4.10 and a beta of 1.13. The stock's 50 day moving average price is $308.79 and its 200 day moving average price is $310.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

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.

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