iA Global Asset Management Inc. Has $9.70 Million Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• iA Global Asset Management cut its Cadence Design Systems stake by 48.1% in the first quarter, leaving it with 34,917 shares worth about $9.7 million.
• Wall Street remains bullish on CDNS, with multiple firms raising targets; the stock carries a Moderate Buy consensus and an average price target of $386.59.
• Cadence reported strong quarterly results, beating EPS and revenue estimates, while also giving guidance for FY 2026 EPS of 7.85–7.95 and Q2 2026 EPS of 2.02–2.08.

iA Global Asset Management Inc. reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 48.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,917 shares of the software maker's stock after selling 32,351 shares during the period. iA Global Asset Management Inc.'s holdings in Cadence Design Systems were worth $9,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDNS. Vanguard Group Inc. raised its position in shares of Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock valued at $8,511,888,000 after purchasing an additional 307,753 shares during the period. State Street Corp lifted its position in Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after acquiring an additional 135,206 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock valued at $2,378,707,000 after purchasing an additional 92,152 shares during the last quarter. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp lifted its position in shares of Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker's stock worth $1,104,714,000 after purchasing an additional 376,654 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CDNS. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Stifel Nicolaus raised their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Robert W. Baird upped their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Rosenblatt Securities restated a "buy" rating and issued a $360.00 price target on shares of Cadence Design Systems in a research report on Friday, April 24th. Finally, Citigroup boosted their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $386.59.

Cadence Design Systems Stock Up 0.6%

Shares of CDNS stock opened at $377.73 on Thursday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. 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 stock has a fifty day moving average price of $368.02 and a 200 day moving average price of $324.09. The stock has a market cap of $104.19 billion, a P/E ratio of 88.05, a price-to-earnings-growth ratio of 4.44 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm 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. Analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares of the company's stock, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director owned 23,264 shares in the company, valued at $8,871,493.76. This represents a 6.10% 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. In the last ninety days, insiders sold 178,557 shares of company stock valued at $66,925,452. Corporate insiders own 0.49% of the company's stock.

Cadence Design Systems 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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