Mather Group LLC. Purchases 13,666 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Mather Group increased its Cadence Design Systems position by 173.9% in the third quarter, buying 13,666 additional shares and bringing its holdings to 21,525 shares valued at approximately $7.1 million. Institutional investors collectively own 84.85% of the company.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $404.14. Several firms recently raised their targets to as high as $420.
• Cadence reported quarterly revenue of $1.58 billion, up 24.2% year over year, and earnings of $2.11 per share, exceeding estimates of $2.05. The stock opened at $324.38, while insiders have sold 6,960 shares worth about $2.19 million over the past 90 days.

Mather Group LLC. boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 173.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,525 shares of the software maker's stock after buying an additional 13,666 shares during the quarter. Mather Group LLC.'s holdings in Cadence Design Systems were worth $7,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. George Kaiser Family Foundation acquired a new position in shares of Cadence Design Systems during the second quarter valued at $725,000. Vega Investment Solutions bought a new stake in shares of Cadence Design Systems during the second quarter valued at about $1,957,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Cadence Design Systems by 65.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 26,160 shares of the software maker's stock worth $8,638,000 after purchasing an additional 10,376 shares during the period. Osmosis Investment Management UK Ltd acquired a new stake in Cadence Design Systems in the second quarter worth about $5,238,000. Finally, Lombard Odier Asset Management Europe Ltd lifted its holdings in Cadence Design Systems by 30.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 52,941 shares of the software maker's stock worth $14,711,000 after purchasing an additional 12,495 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $420.00 target price (up from $400.00) on shares of Cadence Design Systems in a research note on Wednesday, October 7th. Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Citigroup increased their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Benchmark reiterated a "buy" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Rothschild & Co Redburn raised their price objective on shares of Cadence Design Systems from $385.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $404.14.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $324.38 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $319.25 and a two-hundred day moving average of $338.97. The company has a market capitalization of $89.33 billion, a price-to-earnings ratio of 64.49, a PEG ratio of 3.52 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $1.65 EPS. The business's revenue for the quarter was up 24.2% on a year-over-year basis. 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. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $350.07, for a total value of $437,587.50. Following the transaction, the director owned 39,544 shares in the company, valued at approximately $13,843,168.08. The trade was a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita Brennan sold 180 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the completion of the transaction, the director directly owned 7,824 shares in the company, valued at $2,233,830.24. This represents a 2.25% 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. In the last ninety days, insiders have sold 6,960 shares of company stock worth $2,185,879. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

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