Manning & Napier Advisors LLC Has $122.60 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Manning & Napier Advisors cut its Cadence Design Systems stake by 46% in the fourth quarter, selling 330,864 shares and ending with 388,454 shares worth about $122.6 million.
• Cadence reported better-than-expected quarterly results, posting EPS of $1.96 versus estimates of $1.91 on revenue of $1.47 billion, up 18.6% year over year. The company also issued FY2026 EPS guidance of 7.85 to 7.95.
• Wall Street remains broadly positive on CDNS, with 14 Buy ratings and 3 Hold ratings, and a consensus target price of about $380.59. Several analysts recently raised targets, though insiders also sold shares in recent months.

Manning & Napier Advisors LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,454 shares of the software maker's stock after selling 330,864 shares during the period. Cadence Design Systems comprises about 1.6% of Manning & Napier Advisors LLC's holdings, making the stock its 21st largest position. Manning & Napier Advisors LLC owned approximately 0.14% of Cadence Design Systems worth $122,596,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CDNS. Y.D. More Investments Ltd bought a new stake in Cadence Design Systems in the third quarter worth approximately $26,000. Caitlin John LLC acquired a new position in Cadence Design Systems during the third quarter worth $29,000. Lodestone Wealth Management LLC bought a new position in Cadence Design Systems during the fourth quarter valued at about $30,000. Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth about $31,000. Finally, Strategic Wealth Investment Group LLC bought a new position in shares of Cadence Design Systems in the 2nd quarter valued at approximately $32,000. Institutional investors own 84.85% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CDNS shares. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a research report on Wednesday, February 18th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. KeyCorp lifted their price target on Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley reduced their price objective on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Fourteen 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.59.

Cadence Design Systems Stock Up 1.6%

CDNS stock opened at $362.70 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $376.45. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The company has a market cap of $100.04 billion, a PE ratio of 84.55, a price-to-earnings-growth ratio of 4.23 and a beta of 1.13. The business's 50-day simple moving average is $300.45 and its 200 day simple moving average is $309.70.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $1.57 EPS. The company's quarterly revenue was up 18.6% on a year-over-year basis. 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 6.22 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the transaction, the vice president owned 94,137 shares in the company, valued at approximately $28,032,115.86. This represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 21,500 shares of the firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the transaction, the chief financial officer directly owned 86,875 shares of the company's stock, valued at $26,883,468.75. The trade was a 19.84% 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 40,180 shares of company stock valued at $12,924,790 in the last ninety days. 0.49% of the stock is owned by company insiders.

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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