QRG Capital Management Inc. Buys 23,870 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• QRG Capital Management raised its stake in Cadence by 63.8%, buying 23,870 shares to hold 61,274 shares valued at about $19.15 million at quarter end.
• Analysts are broadly positive with a consensus rating of Moderate Buy (14 Buys, 3 Holds) and a consensus target price of $380.59, with several firms raising targets into the ~$325–$400 range.
• Cadence beat quarterly estimates with $1.96 EPS (vs. $1.91 expected) and $1.47B revenue (+18.6% YoY), and issued FY2026 guidance of 7.850–7.950 EPS and Q2 guidance of 2.020–2.080 EPS.

QRG Capital Management Inc. raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 63.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,274 shares of the software maker's stock after acquiring an additional 23,870 shares during the quarter. QRG Capital Management Inc.'s holdings in Cadence Design Systems were worth $19,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Y.D. More Investments Ltd bought a new stake in Cadence Design Systems during the 3rd quarter valued at $26,000. Caitlin John LLC bought a new stake in Cadence Design Systems during the 3rd quarter valued at $29,000. Lodestone Wealth Management LLC bought a new stake in Cadence Design Systems during the 4th quarter valued at $30,000. Imprint Wealth LLC bought a new stake in Cadence Design Systems during the 3rd quarter valued at $31,000. Finally, Strategic Wealth Investment Group LLC bought a new stake in Cadence Design Systems during the 2nd quarter valued at $32,000. Institutional investors own 84.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on CDNS shares. Citigroup increased their target price on Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Morgan Stanley lowered 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. Piper Sandler raised their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a research report on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.59.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $349.51 on Tuesday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $376.45. The firm has a market capitalization of $96.50 billion, a price-to-earnings ratio of 81.47, a PEG ratio of 4.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock's 50-day simple moving average is $296.48 and its 200-day simple moving average is $309.06.

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

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the firm'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 completion of the transaction, the director owned 7,470 shares in the company, valued at $2,203,874.10. This trade represents a 2.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was 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 of the company's stock, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,680 shares of company stock worth $7,284,250 in the last 90 days. Insiders own 0.49% of the company's stock.

Cadence Design Systems 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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