Ilmarinen Mutual Pension Insurance Co Sells 4,118 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its Cadence Design Systems stake by 7.8% in the fourth quarter, selling 4,118 shares and leaving it with 48,503 shares valued at about $15.16 million.
• Institutional ownership remains very high, with firms like Vanguard, State Street, Geode Capital, and Invesco increasing their positions; overall, institutions own 84.85% of Cadence stock.
• Cadence posted strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $384.41.

Ilmarinen Mutual Pension Insurance Co decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,503 shares of the software maker's stock after selling 4,118 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Cadence Design Systems were worth $15,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cadence Design Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock worth $8,511,888,000 after purchasing an additional 307,753 shares during the period. State Street Corp boosted its stake in Cadence Design Systems by 1.2% in the 3rd quarter. State Street Corp now owns 12,468,162 shares of the software maker's stock worth $4,379,567,000 after purchasing an additional 149,577 shares during the period. Geode Capital Management LLC boosted its stake in Cadence Design Systems by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock worth $2,378,707,000 after purchasing an additional 92,152 shares during the period. Invesco Ltd. boosted its stake in Cadence Design Systems by 20.4% in the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker's stock worth $1,033,669,000 after purchasing an additional 499,009 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Cadence Design Systems by 5.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,301,781 shares of the software maker's stock worth $808,530,000 after purchasing an additional 110,794 shares during the period. Institutional investors own 84.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CDNS. Citigroup raised their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Robert W. Baird raised their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research note on Wednesday. Rosenblatt Securities restated a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Morgan Stanley cut their target price on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $384.41.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $373.85 on Friday. The company has a market cap of $103.12 billion, a PE ratio of 87.14, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. 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 stock has a 50-day moving average price of $319.52 and a 200-day moving average price of $312.37. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $383.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during 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 quarter last year, the company 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. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $297.78, for a total transaction of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares of the company's stock, valued at approximately $28,032,115.86. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John M. Wall sold 21,500 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the transaction, the chief financial officer directly owned 86,875 shares in the company, valued at approximately $26,883,468.75. This represents a 19.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 93,138 shares of company stock worth $32,492,540 in the last quarter. 0.49% of the stock is owned by company insiders.

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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