New Age Alpha Advisors LLC Acquires New Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• New Age Alpha Advisors disclosed a new stake in Cadence Design Systems, buying 9,476 shares worth about $2.96 million in the fourth quarter.
• Institutional interest in CDNS remains strong, with hedge funds and other investors adding to positions; the stock is now 84.85% owned by institutional investors and hedge funds.
• Cadence reported better-than-expected quarterly results, with EPS of $1.96 on revenue of $1.47 billion, and analysts maintain a mostly bullish outlook with a Moderate Buy consensus and average target price of $382.06.

New Age Alpha Advisors LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,476 shares of the software maker's stock, valued at approximately $2,962,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Wealth Services raised its stake in Cadence Design Systems by 1,501.3% in the 3rd quarter. Peterson Wealth Services now owns 187,115 shares of the software maker's stock valued at $65,726,000 after purchasing an additional 175,430 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Cadence Design Systems by 301.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 49,999 shares of the software maker's stock valued at $17,563,000 after purchasing an additional 37,558 shares during the last quarter. Sun Financial Inc acquired a new position in Cadence Design Systems in the 4th quarter valued at $1,225,000. DDD Partners LLC raised its stake in Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker's stock valued at $13,118,000 after purchasing an additional 9,024 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Cadence Design Systems by 28.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,044 shares of the software maker's stock valued at $2,816,000 after buying an additional 1,779 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the transaction, the director owned 7,470 shares of the company's stock, valued at $2,203,874.10. This represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 21,500 shares of the company's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the transaction, the chief financial officer directly owned 86,875 shares in the company, valued at approximately $26,883,468.75. This trade represents a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 41,251 shares of company stock worth $13,294,350. Company insiders own 0.49% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CDNS. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a report on Wednesday, February 18th. Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Piper Sandler upped their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Morgan Stanley dropped their target price on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating for the company in a report on Wednesday, February 18th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $382.06.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $381.75 on Wednesday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $383.24. The business's fifty day simple moving average is $316.29 and its 200-day simple moving average is $311.67. The firm has a market cap of $105.29 billion, a PE ratio of 88.99, a price-to-earnings-growth ratio of 4.42 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $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. Equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current 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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