Man Group plc Invests $191.53 Million in Cadence Design Systems, Inc. $CDNS

Key Points

• Man Group plc acquired 510,302 Cadence Design Systems shares worth approximately $191.5 million in the second quarter, representing about 0.19% of the company.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds; the stock has an average “Moderate Buy” rating and a consensus price target of $405.69.
• Cadence exceeded quarterly earnings expectations, reporting $2.11 in EPS versus a $2.05 consensus estimate and 24.2% year-over-year revenue growth. Insiders, however, sold roughly $35.7 million of stock over the past 90 days.

Man Group plc acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 510,302 shares of the software maker's stock, valued at approximately $191,527,000. Man Group plc owned approximately 0.19% of Cadence Design Systems at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC grew its stake in Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $28,000. Swiss RE Ltd. bought a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity

In other news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares of the company's stock, valued at approximately $12,676,417.71. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares of the company's stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 89,599 shares of company stock worth $35,710,627. Corporate insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Bank of America increased their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $405.69.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $331.90 on Wednesday. The company has a market capitalization of $91.40 billion, a price-to-earnings ratio of 65.98, a PEG ratio of 3.39 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The stock's 50 day moving average is $351.00 and its 200-day moving average is $332.31.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Equities research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS 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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