Cadence Design Systems, Inc. $CDNS Shares Acquired by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its Cadence Design Systems stake by 12.3% in the third quarter, acquiring 18,648 additional shares and bringing its holdings to 170,325 shares valued at approximately $56.24 million. Institutional investors collectively own 84.85% of CDNS.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $404.14; Citigroup, Needham, and Rothschild & Co Redburn recently maintained or issued buy ratings with targets up to $420.
• CDNS shares fell 1.9% to $323.26, while the company reported quarterly EPS of $2.11—beating estimates—and revenue of $1.58 billion, up 24.2% year over year.

Ninety One UK Ltd increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,325 shares of the software maker's stock after purchasing an additional 18,648 shares during the quarter. Ninety One UK Ltd owned approximately 0.06% of Cadence Design Systems worth $56,240,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CDNS. Avalon Trust Co bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $30,000. Fiduciary Financial Advisors acquired a new stake in shares of Cadence Design Systems in the second quarter valued at about $31,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cadence Design Systems during the fourth quarter worth about $28,000. Arlington Trust Co LLC raised its position in shares of Cadence Design Systems by 154.3% during the second quarter. Arlington Trust Co LLC now owns 89 shares of the software maker's stock worth $33,000 after acquiring an additional 54 shares during the last quarter. Finally, Burkett Financial Services LLC acquired a new position in shares of Cadence Design Systems in the third quarter worth approximately $30,000. 84.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the transaction, the vice president directly owned 31,720 shares of the company's stock, valued at approximately $10,753,080. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a 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 Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total transaction of $51,391.80. Following the completion of the sale, the director owned 7,824 shares of the company's stock, valued at $2,233,830.24. This represents a 2.25% 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. In the last three months, insiders have sold 6,960 shares of company stock valued at $2,185,879. Company insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDNS. Weiss Ratings cut Cadence Design Systems from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, September 25th. Piper Sandler increased their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rothschild & Co Redburn raised their price target on shares of Cadence Design Systems from $385.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Finally, Citigroup boosted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average price target of $404.14.

Cadence Design Systems Trading Down 1.9%

Cadence Design Systems stock traded down $6.20 during trading hours on Thursday, reaching $323.26. 996,558 shares of the company's stock were exchanged, compared to its average volume of 2,439,398. The firm's 50 day simple moving average is $319.53 and its 200 day simple moving average is $338.60. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $89.02 billion, a PE ratio of 64.11, a PEG ratio of 3.58 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $1.65 EPS. The firm's revenue was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current year.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

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