Man Group plc Acquires 305,469 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Man Group plc more than doubled its Cadence Design Systems stake in the fourth quarter, buying 305,469 additional shares and bringing its total holding to 597,455 shares valued at about $186.8 million.
• Institutional ownership remains heavy, with 84.85% of Cadence shares held by institutions, and several other firms also added to or initiated positions in the stock.
• Analysts remain bullish on Cadence Design Systems, with 14 Buy ratings and 3 Hold ratings; the consensus rating is Moderate Buy and the average price target is $386.59, while recent earnings beat expectations and revenue grew 18.6% year over year.

Man Group plc grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 104.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 597,455 shares of the software maker's stock after acquiring an additional 305,469 shares during the period. Man Group plc owned 0.22% of Cadence Design Systems worth $186,752,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Sun Financial Inc purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth $1,225,000. MUFG Securities EMEA plc increased its stake in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock worth $3,488,000 after purchasing an additional 5,943 shares in the last quarter. DDD Partners LLC increased its stake in shares of Cadence Design Systems by 27.4% in the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker's stock worth $13,118,000 after purchasing an additional 9,024 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth $1,105,000. Finally, Allianz SE purchased a new stake in shares of Cadence Design Systems in the third quarter worth $1,265,000. 84.85% of the stock is currently owned by institutional investors.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of Cadence Design Systems stock in a transaction on Friday, May 1st. The shares were sold at an average price of $339.00, for a total value 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 $11,507,694. This trade represents a 23.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Cadence Design Systems stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the transaction, the director directly owned 23,264 shares of the company's stock, valued at $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. 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 179,557 shares of company stock valued at $67,205,642 in the last ninety days. Corporate insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CDNS shares. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. KeyCorp increased their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Citigroup raised their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $386.59.

Cadence Design Systems Stock Performance

CDNS opened at $389.60 on Thursday. The stock has a market capitalization of $107.46 billion, a price-to-earnings ratio of 90.82, a PEG ratio of 4.59 and a beta of 1.15. The company has a fifty day moving average of $351.03 and a 200 day moving average of $320.63. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems's quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company 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. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

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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