Cadence Design Systems, Inc. $CDNS Shares Acquired by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management boosted its stake in Cadence Design Systems by 54.6% in the fourth quarter, ending with 319,696 shares valued at about $99.9 million.
• Cadence reported strong quarterly results, with EPS of $1.96 beating estimates and revenue of $1.47 billion topping expectations, while revenue rose 18.6% year over year.
• Analysts remain broadly positive on the stock, with 14 Buy ratings and three Hold ratings; several firms recently raised price targets, and the consensus target is $386.59.

Rockefeller Capital Management L.P. lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 54.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,696 shares of the software maker's stock after acquiring an additional 112,923 shares during the period. Rockefeller Capital Management L.P. owned 0.12% of Cadence Design Systems worth $99,931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock valued at $8,511,888,000 after purchasing an additional 307,753 shares during the period. State Street Corp boosted its stake in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after buying an additional 135,206 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock worth $2,378,707,000 after buying an additional 92,152 shares during the period. Norges Bank purchased a new position in shares of Cadence Design Systems during the fourth quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 11.9% during the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker's stock worth $1,104,714,000 after buying an additional 376,654 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $387.39 on Friday. The company has a market cap of $106.85 billion, a P/E ratio of 90.30, a price-to-earnings-growth ratio of 4.59 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. The business has a fifty day moving average of $355.14 and a two-hundred day moving average of $321.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. 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 prior year, the company posted $1.57 EPS. The business's revenue for the quarter 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, analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

CDNS has been the subject of several analyst reports. Piper Sandler upped their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research note on Wednesday, May 27th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Citigroup upped their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus increased their price target on Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $386.59.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the transaction, the vice president directly owned 126,586 shares of the company's stock, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director owned 23,264 shares of the company's stock, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,557 shares of company stock valued at $67,205,642 in the last ninety days. Company insiders own 0.49% of the company's stock.

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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