Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $6.26 Million in Cadence Design Systems, Inc. $CDNS

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Cadence Design Systems in Q4, buying 20,025 shares worth about $6.26 million.
• Cadence Design Systems reported better-than-expected quarterly results, with EPS of $1.96 versus $1.91 estimated and revenue of $1.47 billion, up 18.6% year over year.
• Wall Street remains largely bullish on CDNS, with 14 Buy ratings and a consensus target price of $380.59, while several firms recently raised their price targets.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,025 shares of the software maker's stock, valued at approximately $6,259,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. grew its position in shares of Cadence Design Systems by 0.4% during the third quarter. Whittier Trust Co. now owns 7,072 shares of the software maker's stock worth $2,456,000 after buying an additional 30 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in shares of Cadence Design Systems by 4.3% during the third quarter. Cornerstone Wealth Group LLC now owns 777 shares of the software maker's stock worth $273,000 after buying an additional 32 shares in the last quarter. Spirepoint Private Client LLC boosted its holdings in Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock valued at $226,000 after purchasing an additional 32 shares in the last quarter. West Family Investments Inc. boosted its holdings in Cadence Design Systems by 2.2% in the third quarter. West Family Investments Inc. now owns 1,559 shares of the software maker's stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Cadence Design Systems by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker's stock valued at $379,000 after purchasing an additional 35 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research analyst reports. Piper Sandler upped their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. Citigroup increased their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Robert W. Baird increased their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, KeyCorp increased their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.59.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $338.12 on Wednesday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $376.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The business has a 50 day simple moving average of $308.79 and a 200-day simple moving average of $310.50. The stock has a market capitalization of $93.26 billion, a PE ratio of 78.82, a price-to-earnings-growth ratio of 4.10 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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. 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 during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The company's quarterly revenue 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 earnings per share for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the completion of the transaction, the director owned 7,470 shares in the company, valued at approximately $2,203,874.10. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the transaction, the vice president owned 94,137 shares of the company's stock, valued at $28,032,115.86. The trade was a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 40,180 shares of company stock worth $12,924,790. 0.49% of the stock is owned by insiders.

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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