Cadence Design Systems, Inc. $CDNS Shares Acquired by Manchester Global Management UK Ltd

Key Points

• Manchester Global Management UK Ltd boosted its Cadence Design Systems stake by 46.2% in Q4, adding 29,450 shares to reach 93,150 shares worth about $29.1 million.
• Cadence reported better-than-expected quarterly results, with EPS of $1.96 versus $1.91 expected and revenue of $1.47 billion, while revenue rose 18.6% year over year.
• Despite strong results and generally bullish analyst ratings, the stock was down 1.7% and insiders recently sold shares, including CEO Anirudh Devgan’s large pre-arranged sale.

Manchester Global Management UK Ltd grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,150 shares of the software maker's stock after purchasing an additional 29,450 shares during the period. Cadence Design Systems makes up approximately 3.9% of Manchester Global Management UK Ltd's portfolio, making the stock its 13th biggest holding. Manchester Global Management UK Ltd's holdings in Cadence Design Systems were worth $29,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Y.D. More Investments Ltd acquired a new position in Cadence Design Systems during the third quarter worth $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems during the fourth quarter worth $28,000. Caitlin John LLC acquired a new position in Cadence Design Systems during the third quarter worth $29,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems during the fourth quarter worth $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in Cadence Design Systems during the fourth quarter worth $30,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Stock Down 1.7%

CDNS opened at $387.85 on Wednesday. The business's fifty day moving average is $348.82 and its two-hundred day moving average is $320.05. 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 company has a market cap of $106.98 billion, a price-to-earnings ratio of 90.41, a PEG ratio of 4.67 and a beta of 1.15. 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 posted its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.Cadence Design Systems's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. 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. Analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 25,005 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the sale, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 177,557 shares of company stock valued at $66,423,642 in the last 90 days. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CDNS. KeyCorp upped their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. Morgan Stanley dropped their price objective on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company upped their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Finally, Stifel Nicolaus boosted their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $386.59.

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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