Legal & General Group Plc Has $620.93 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Legal & General Group Plc increased its Cadence Design Systems stake by 1.1% in the fourth quarter, ending with 1,986,468 shares valued at about $620.9 million.
• Cadence reported strong quarterly results, with EPS of $1.96 and revenue of $1.47 billion, both slightly above analyst estimates, while revenue rose 18.6% year over year.
• Analysts remain generally bullish on the stock: Cadence has a Moderate Buy consensus rating, and the average price target is $380.59.

Legal & General Group Plc lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,986,468 shares of the software maker's stock after buying an additional 22,408 shares during the quarter. Legal & General Group Plc owned about 0.73% of Cadence Design Systems worth $620,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CDNS. Y.D. More Investments Ltd acquired a new position in Cadence Design Systems in the third quarter valued at about $26,000. Caitlin John LLC acquired a new position in Cadence Design Systems in the third quarter valued at about $29,000. Lodestone Wealth Management LLC bought a new position in Cadence Design Systems in the fourth quarter valued at about $30,000. Imprint Wealth LLC bought a new position in Cadence Design Systems in the third quarter valued at about $31,000. Finally, Strategic Wealth Investment Group LLC bought a new position in Cadence Design Systems in the second quarter valued at about $32,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the sale, the director directly owned 7,470 shares in the company, valued at approximately $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John M. Wall sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total value of $1,743,550.00. Following the sale, the chief financial officer owned 81,875 shares in the company, valued at approximately $28,550,631.25. This trade represents a 5.76% 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. In the last three months, insiders have sold 41,251 shares of company stock valued at $13,294,350. 0.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Piper Sandler lifted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Morgan Stanley decreased their target price on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus target price of $380.59.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $373.59 on Tuesday. The stock has a market cap of $103.04 billion, a P/E ratio of 87.08, a price-to-earnings-growth ratio of 4.42 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's 50-day moving average is $314.40 and its 200-day moving average is $311.29. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $381.55.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share 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 analysts' expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 earnings per share. 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 research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

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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