Cadence Design Systems, Inc. $CDNS Shares Acquired by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc increased its Cadence Design Systems stake by 113.9% in the fourth quarter, ending with 11,159 shares valued at about $3.49 million.
• Cadence reported better-than-expected quarterly results, with EPS of $1.96 versus $1.91 expected and revenue of $1.47 billion, up 18.6% year over year.
• Wall Street remains constructive on the stock, with 14 Buy ratings and a consensus Moderate Buy rating, while the average price target sits at $384.41.

MUFG Securities EMEA plc increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 113.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,159 shares of the software maker's stock after acquiring an additional 5,943 shares during the period. MUFG Securities EMEA plc's holdings in Cadence Design Systems were worth $3,488,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Spirepoint Private Client LLC lifted its stake in shares of Cadence Design Systems by 4.6% in the 4th quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock valued at $226,000 after purchasing an additional 32 shares in the last quarter. West Family Investments Inc. lifted its stake in shares of Cadence Design Systems by 2.2% in the 3rd quarter. West Family Investments Inc. now owns 1,559 shares of the software maker's stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Cadence Design Systems by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker's stock valued at $379,000 after purchasing an additional 35 shares in the last quarter. Global Assets Advisory LLC lifted its stake in shares of Cadence Design Systems by 2.1% in the 4th quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker's stock valued at $540,000 after purchasing an additional 35 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its stake in shares of Cadence Design Systems by 3.0% in the 4th quarter. Bridgewater Advisors Inc. now owns 1,233 shares of the software maker's stock valued at $384,000 after purchasing an additional 36 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $414.16 on Tuesday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $414.92. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $114.23 billion, a price-to-earnings ratio of 96.54, a price-to-earnings-growth ratio of 4.44 and a beta of 1.15. The business has a 50 day simple moving average of $323.76 and a 200-day simple moving average of $313.36.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $1.57 EPS. The business'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 research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDNS. Rosenblatt Securities reaffirmed a "buy" rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research note on Friday, April 24th. Robert W. Baird lifted their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Citigroup boosted their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a research report on Wednesday, February 18th. 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $384.41.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the completion of the transaction, the director owned 7,470 shares in the company, valued at approximately $2,203,874.10. The trade was a 2.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul Scannell sold 10,500 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the transaction, the vice president owned 33,946 shares of the company's stock, valued at $11,507,694. This trade represents a 23.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 92,138 shares of company stock worth $32,194,760 over the last 90 days. Insiders own 0.49% of the company's stock.

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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