ProShare Advisors LLC Purchases 131,097 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• ProShare Advisors LLC boosted its Cadence Design Systems stake by 37.1% in the fourth quarter, buying 131,097 additional shares and bringing its holdings to 484,597 shares valued at about $151.5 million.
• Several analysts remain bullish on CDNS, with multiple firms raising price targets to $400 and the stock carrying a consensus rating of Moderate Buy with an average target price of $380.59.
• Cadence reported strong quarterly results, including EPS of $1.96 versus estimates of $1.91 and revenue of $1.47 billion, up 18.6% year over year, while also issuing FY2026 guidance of $7.85–$7.95 EPS.

ProShare Advisors LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 37.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,597 shares of the software maker's stock after purchasing an additional 131,097 shares during the period. ProShare Advisors LLC owned approximately 0.18% of Cadence Design Systems worth $151,475,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its stake in Cadence Design Systems by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,909 shares of the software maker's stock worth $5,598,000 after purchasing an additional 497 shares in the last quarter. Spectrum Strategic Capital Management LLC bought a new position in Cadence Design Systems during the 4th quarter valued at about $690,000. Gamco Investors INC. ET AL lifted its stake in Cadence Design Systems by 2.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 15,254 shares of the software maker's stock valued at $4,768,000 after acquiring an additional 297 shares during the period. Gabelli Funds LLC lifted its stake in Cadence Design Systems by 0.4% during the 4th quarter. Gabelli Funds LLC now owns 37,601 shares of the software maker's stock valued at $11,753,000 after acquiring an additional 167 shares during the period. Finally, North Dakota State Investment Board bought a new position in Cadence Design Systems during the 4th quarter valued at about $2,925,000. Institutional investors own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In other news, CFO John M. Wall sold 5,000 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the completion of the sale, the chief financial officer owned 81,875 shares of the company's stock, valued at $28,550,631.25. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total transaction of $53,105.40. Following the sale, the director directly owned 7,470 shares of the company's stock, valued at $2,203,874.10. The trade was a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,180 shares of company stock worth $12,924,790 over the last 90 days. 0.49% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CDNS shares. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Citigroup upped 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. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Rosenblatt Securities restated a "buy" rating and set a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Robert W. Baird upped their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $380.59.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $345.99 on Tuesday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $376.45. The firm has a market capitalization of $95.43 billion, a P/E ratio of 80.65, a PEG ratio of 4.11 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. The company has a 50-day moving average price of $307.96 and a 200-day moving average price of $310.52.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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 net margin of 21.18% and a return on equity of 28.44%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. 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 research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share 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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