Cadence Design Systems, Inc. $CDNS Holdings Increased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Cadence Design Systems stake by 8.2% in the first quarter, adding 20,579 shares to bring its total to 272,501 shares valued at about $75.7 million.
• Several other major institutional investors also raised or initiated positions, and hedge funds and institutions now own 84.85% of Cadence Design Systems shares.
• Insiders sold stock recently, including CEO Anirudh Devgan and VP Paul Scannell, while the company also reported better-than-expected quarterly earnings and revenue and lifted its full-year guidance.

Candriam S.C.A. increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,501 shares of the software maker's stock after acquiring an additional 20,579 shares during the period. Candriam S.C.A. owned approximately 0.10% of Cadence Design Systems worth $75,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Cadence Design Systems during the 4th quarter valued at $1,352,922,000. J. Stern & Co. LLP raised its stake in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock worth $923,129,000 after buying an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cadence Design Systems by 218.6% in the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock worth $798,087,000 after buying an additional 1,751,927 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 period. Finally, Scge Management L.P. acquired a new stake in shares of Cadence Design Systems in the second quarter valued at $187,663,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity

In other news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares of the company's stock, valued at $12,676,417.71. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares in the company, valued at $105,210,385. This represents a 8.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $384.17 on Friday. The company has a market capitalization of $105.96 billion, a PE ratio of 89.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a fifty day moving average of $374.82 and a 200-day moving average of $326.95. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the firm posted $1.57 EPS. The company's quarterly revenue was up 18.6% on a year-over-year basis. 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. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analyst Ratings Changes

CDNS has been the subject of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadence Design Systems in a research note on Thursday, July 2nd. Robert W. Baird boosted their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. KeyCorp raised their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Finally, Citigroup lifted their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $387.00.

Cadence Design Systems Company 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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