Cadence Design Systems, Inc. $CDNS Stock Position Lowered by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd trimmed its Cadence Design Systems stake by 1.7% in the fourth quarter, ending with 159,300 shares valued at about $49.8 million.
• Several Cadence insiders sold shares recently, including VP Paul Scannell and VP Paul Cunningham; over the past three months, insiders sold 176,046 shares worth $65.8 million.
• Cadence reported strong quarterly results, with EPS of $1.96 topping estimates and revenue rising 18.6% year over year, while analysts currently rate the stock a “Moderate Buy” with an average price target of $386.59.

UniSuper Management Pty Ltd lessened its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,300 shares of the software maker's stock after selling 2,827 shares during the period. UniSuper Management Pty Ltd owned approximately 0.06% of Cadence Design Systems worth $49,794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd acquired a new stake in shares of Cadence Design Systems during the third quarter worth $26,000. Caitlin John LLC acquired a new stake in shares of Cadence Design Systems during the third quarter worth $29,000. Lodestone Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth $30,000. Imprint Wealth LLC acquired a new stake in shares of Cadence Design Systems during the third quarter worth $31,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth $32,000. Institutional investors own 84.85% of the company's stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of the business's stock in a transaction dated 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 in the company, valued at $11,507,694. The trade was a 23.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $337.49, for a total value of $337,490.00. Following the completion of the transaction, the vice president owned 127,586 shares in the company, valued at $43,058,999.14. This trade represents a 0.78% 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. Over the last three months, insiders have sold 176,046 shares of company stock worth $65,830,801. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $383.74 on Friday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. 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 $105.84 billion, a price-to-earnings ratio of 89.45, a P/E/G ratio of 4.56 and a beta of 1.15. The stock's fifty day simple moving average is $342.23 and its 200-day simple moving average is $318.27.

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 for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. Cadence Design Systems'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. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CDNS shares. Piper Sandler boosted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. KeyCorp boosted their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Robert W. Baird boosted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.

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