Erste Asset Management GmbH Has $2.24 Million Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Erste Asset Management GmbH cut its Cadence Design Systems stake by 59.1% in the fourth quarter, selling 10,196 shares and leaving it with 7,052 shares valued at about $2.24 million.
• Insiders have been selling shares as well. CEO Anirudh Devgan sold 25,005 shares for about $10.4 million, and insiders sold a total of 176,046 shares worth $65.8 million over the last quarter.
• Analysts remain broadly positive on CDNS. The stock carries a “Moderate Buy” rating, with 14 Buy ratings and an average target price of $386.59, while recent target hikes came from firms including Citigroup, Stifel, and KeyCorp.

Erste Asset Management GmbH reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 59.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,052 shares of the software maker's stock after selling 10,196 shares during the quarter. Erste Asset Management GmbH's holdings in Cadence Design Systems were worth $2,240,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Y.D. More Investments Ltd acquired a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $26,000. Caitlin John LLC acquired a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $29,000. Lodestone Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $30,000. Imprint Wealth LLC acquired a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $31,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $32,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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. This trade represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Cadence Design Systems stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $337.49, for a total value of $337,490.00. Following the sale, the vice president directly owned 127,586 shares in the company, valued at $43,058,999.14. The trade was a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 176,046 shares of company stock worth $65,830,801 over the last quarter. 0.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CDNS shares. Citigroup raised their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Morgan Stanley cut their price objective on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Robert W. Baird raised 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. Stifel Nicolaus raised their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, KeyCorp raised their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $386.59.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $390.90 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The business's 50 day moving average is $337.83 and its two-hundred day moving average is $317.10. The company has a market cap of $107.82 billion, a P/E ratio of 91.12, a P/E/G ratio of 4.67 and a beta of 1.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 EPS. 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, equities analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

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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