LGT Capital Partners LTD. Has $35.14 Million Position in Cadence Design Systems, Inc. $CDNS

Key Points

• LGT Capital Partners increased its Cadence Design Systems stake by 10.6% in the fourth quarter, ending with 112,422 shares valued at about $35.1 million.
• Cadence Design Systems reported strong quarterly results, with EPS of $1.96 beating estimates and revenue of $1.47 billion topping expectations; revenue rose 18.6% year over year.
• Despite the positive results, insiders sold shares in recent months, including CEO Anirudh Devgan and VP Paul Scannell, while analysts remain broadly constructive with a consensus rating of Moderate Buy.

LGT Capital Partners LTD. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,422 shares of the software maker's stock after purchasing an additional 10,807 shares during the quarter. Cadence Design Systems accounts for about 1.7% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 23rd biggest holding. LGT Capital Partners LTD.'s holdings in Cadence Design Systems were worth $35,141,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CDNS. Y.D. More Investments Ltd bought a new position in Cadence Design Systems in the third quarter valued at approximately $26,000. Caitlin John LLC bought a new position in Cadence Design Systems in the third quarter valued at approximately $29,000. Lodestone Wealth Management LLC bought a new position in Cadence Design Systems in the fourth quarter valued at approximately $30,000. Imprint Wealth LLC bought a new position in Cadence Design Systems in the third quarter valued at approximately $31,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Stock Up 4.8%

Cadence Design Systems stock opened at $394.24 on Tuesday. The company has a market cap of $108.74 billion, a P/E ratio of 91.90, a price-to-earnings-growth ratio of 4.45 and a beta of 1.15. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a fifty day simple moving average of $335.44 and a 200 day simple moving average of $316.51. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 51,887 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the transaction, the chief executive officer owned 303,525 shares of the company's stock, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the transaction, the vice president directly owned 33,946 shares of the company's stock, valued at approximately $11,507,694. This trade represents a 23.62% 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. Insiders sold a total of 176,046 shares of company stock worth $65,830,801 in the last three months. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDNS. Morgan Stanley cut their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. KeyCorp lifted their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Robert W. Baird lifted their price target 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. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $384.41.

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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