Cadence Design Systems, Inc. $CDNS Shares Acquired by Trillium Asset Management LLC

Key Points

• Trillium Asset Management increased its Cadence Design Systems stake by 8.6% in the fourth quarter, buying 7,230 more shares and bringing its total to 91,334 shares valued at about $28.9 million.
• Cadence reported better-than-expected first-quarter earnings, with EPS of $1.96 versus the $1.91 estimate and revenue of $1.47 billion, up 18.6% year over year. The company also raised guidance for FY2026 and Q2 2026.
• Wall Street remains broadly bullish on CDNS, with several analysts raising price targets and 14 Buy ratings versus 3 Hold ratings. The average price target currently stands at $386.59.

Trillium Asset Management LLC lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,334 shares of the software maker's stock after purchasing an additional 7,230 shares during the period. Trillium Asset Management LLC's holdings in Cadence Design Systems were worth $28,917,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CDNS. Sun Financial Inc acquired a new stake in Cadence Design Systems in the fourth quarter valued at $1,225,000. MUFG Securities EMEA plc raised its holdings in Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock valued at $3,488,000 after acquiring an additional 5,943 shares in the last quarter. DDD Partners LLC raised its holdings in Cadence Design Systems by 27.4% in the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker's stock valued at $13,118,000 after acquiring an additional 9,024 shares in the last quarter. Leonteq Securities AG acquired a new stake in Cadence Design Systems in the fourth quarter valued at $1,105,000. Finally, Allianz SE acquired a new stake in Cadence Design Systems in the third quarter valued at $1,265,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 0.3%

CDNS stock opened at $384.96 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The firm has a fifty day moving average price of $344.32 and a two-hundred day moving average price of $318.73. The firm has a market cap of $106.18 billion, a price-to-earnings ratio of 89.73, a PEG ratio of 4.54 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. 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. Research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction 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. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 of the company's stock, valued at approximately $105,210,385. The trade was 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. Insiders have sold 176,226 shares of company stock valued at $65,900,542 over the last quarter. 0.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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. Citigroup upped their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Morgan Stanley cut their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $386.59.

About Cadence Design Systems

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.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.