UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,708,027 shares of the software maker's stock after selling 76,291 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.36% of Cadence Design Systems worth $1,159,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of CDNS. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. Assenagon Asset Management S.A. boosted its position in shares of Cadence Design Systems by 120.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker's stock worth $351,470,000 after purchasing an additional 615,440 shares during the period. Scge Management L.P. bought a new position in shares of Cadence Design Systems in the second quarter worth approximately $187,663,000. Invesco Ltd. boosted its position in shares of Cadence Design Systems by 20.4% in the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker's stock worth $1,033,669,000 after purchasing an additional 499,009 shares during the period. Finally, Close Asset Management Ltd boosted its position in shares of Cadence Design Systems by 577.5% during the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker's stock worth $199,088,000 after acquiring an additional 483,039 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Cadence Design Systems
In other Cadence Design Systems news, CFO John M. Wall sold 21,500 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the transaction, the chief financial officer owned 86,875 shares in the company, valued at $26,883,468.75. This trade represents a 19.84% decrease in their ownership of the stock. 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, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares of the company's stock, valued at $112,304,250. This trade represents a 14.60% 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 176,226 shares of company stock worth $65,900,542 over the last three months. 0.49% of the stock is owned by company insiders.
Cadence Design Systems Price Performance
Shares of NASDAQ:CDNS opened at $384.96 on Friday. 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 firm has a fifty day moving average price of $344.32 and a 200 day moving average price of $318.73. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm has a market cap of $106.18 billion, a price-to-earnings ratio of 89.73, a P/E/G ratio of 4.54 and a beta of 1.15.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $1.57 earnings per share. Cadence Design Systems's quarterly revenue 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. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Robert W. Baird upped their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research report 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 report on Friday, April 24th. Finally, Piper Sandler upped their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $386.59.
Check Out Our Latest Research Report on CDNS
About Cadence Design Systems
(
Free Report)
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.
See Also
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