Fideuram Asset Management Ireland dac Makes New $2.86 Million Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Fideuram Asset Management Ireland dac initiated a new position in Cadence Design Systems in the fourth quarter, buying 9,361 shares worth about $2.86 million.
• Wall Street sentiment remains upbeat: analysts on average rate CDNS as “Moderate Buy”, with an average price target of $384.41.
• Cadence reported better-than-expected quarterly results, posting EPS of $1.96 versus the $1.91 estimate and revenue of $1.47 billion, while also guiding for continued earnings growth.

Fideuram Asset Management Ireland dac bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,361 shares of the software maker's stock, valued at approximately $2,862,000.

Several other institutional investors have also recently made changes to their positions in CDNS. Principia Wealth Advisory LLC increased its holdings in Cadence Design Systems by 167.5% in the fourth quarter. Principia Wealth Advisory LLC now owns 313 shares of the software maker's stock valued at $98,000 after buying an additional 196 shares in the last quarter. National Pension Service increased its holdings in Cadence Design Systems by 1.1% in the fourth quarter. National Pension Service now owns 751,923 shares of the software maker's stock valued at $235,036,000 after buying an additional 8,051 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in Cadence Design Systems in the fourth quarter valued at $182,000. SBI Okasan Asset Management Co.Ltd. purchased a new position in Cadence Design Systems in the fourth quarter valued at $1,859,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Cadence Design Systems by 1.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,458 shares of the software maker's stock valued at $4,519,000 after buying an additional 180 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of recent analyst reports. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday. Piper Sandler lifted their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Morgan Stanley cut their price objective on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating for the company in a report on Wednesday, February 18th. Citigroup lifted their price objective 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. Finally, KeyCorp lifted their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Fourteen investment 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 stock currently has an average rating of "Moderate Buy" and an average price target of $384.41.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Friday, May 1st. The shares were sold at an average price of $337.49, for a total transaction of $337,490.00. Following the sale, the vice president owned 127,586 shares of the company's stock, valued at $43,058,999.14. The trade was a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 5,000 shares of Cadence Design Systems stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the sale, the chief financial officer directly owned 81,875 shares in the company, valued at approximately $28,550,631.25. This trade represents a 5.76% 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 quarter, insiders have sold 93,138 shares of company stock valued at $32,492,540. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 0.1%

Shares of NASDAQ CDNS opened at $373.85 on Friday. The company's 50-day simple moving average is $319.52 and its 200-day simple moving average is $312.37. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $383.80. The firm has a market cap of $103.12 billion, a price-to-earnings ratio of 87.14, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $1.57 earnings per share. The company'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. Equities analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal 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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