Stonehage Fleming Financial Services Holdings Ltd Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Stonehage Fleming Financial Services Holdings acquired 425,983 Cadence Design Systems shares worth approximately $159.9 million, making CDNS about 5.5% of its portfolio and its sixth-largest holding.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $405.69.
• Cadence beat quarterly EPS estimates, reporting $2.11 versus $2.05 expected, while revenue rose 24.2% year over year to $1.58 billion; meanwhile, insiders have sold $36.2 million of stock over the past 90 days.

Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 425,983 shares of the software maker's stock, valued at approximately $159,880,000. Cadence Design Systems comprises approximately 5.5% of Stonehage Fleming Financial Services Holdings Ltd's investment portfolio, making the stock its 6th biggest position. Stonehage Fleming Financial Services Holdings Ltd owned 0.15% of Cadence Design Systems as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cadence Design Systems in the fourth quarter valued at approximately $1,352,922,000. J. Stern & Co. LLP increased its position in Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock valued at $923,129,000 after acquiring an additional 2,924,470 shares during the period. Legal & General Group Plc bought a new position in shares of Cadence Design Systems during the second quarter valued at $702,615,000. Jupiter Topco LLC bought a new position in shares of Cadence Design Systems during the second quarter valued at $688,746,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Cadence Design Systems by 218.6% during the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock worth $798,087,000 after purchasing an additional 1,751,927 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on CDNS shares. Bank of America upped their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Citigroup boosted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $405.69.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $347.55 on Friday. The business has a 50-day simple moving average of $349.11 and a 200 day simple moving average of $333.21. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The firm has a market capitalization of $95.71 billion, a price-to-earnings ratio of 69.10, a PEG ratio of 3.59 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The company's quarterly revenue 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Vincentelli Albert Sangiovanni sold 1,250 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the transaction, the director owned 40,794 shares of the company's stock, valued at $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,822 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $395.00, for a total transaction of $20,469,690.00. Following the completion of the sale, the chief executive officer owned 278,524 shares of the company's stock, valued at approximately $110,016,980. The trade was a 15.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 91,129 shares of company stock worth $36,206,647 in the last 90 days. Company insiders own 0.49% of the company's stock.

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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