Westerkirk Capital Inc. Has $3.16 Million Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Westerkirk Capital boosted its Cadence Design Systems stake by 50.1% in the fourth quarter, ending with 10,094 shares valued at about $3.16 million.
• Cadence reported better-than-expected quarterly results, with EPS of $1.96 versus $1.91 expected and revenue of $1.47 billion, up 18.6% year over year. The company also issued FY2026 guidance of $7.85 to $7.95 EPS.
• Analysts remain largely positive on CDNS, with 14 Buy ratings and a consensus Moderate Buy target of about $384.41, even as several insiders recently sold shares under pre-arranged trading plans.

Westerkirk Capital Inc. lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 50.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,094 shares of the software maker's stock after buying an additional 3,370 shares during the period. Westerkirk Capital Inc.'s holdings in Cadence Design Systems were worth $3,155,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Claret Asset Management Corp raised its holdings in shares of Cadence Design Systems by 6.9% in the 4th quarter. Claret Asset Management Corp now owns 804 shares of the software maker's stock worth $251,000 after buying an additional 52 shares in the last quarter. Orion Investment Co raised its holdings in shares of Cadence Design Systems by 2.5% in the 4th quarter. Orion Investment Co now owns 10,684 shares of the software maker's stock worth $3,340,000 after buying an additional 258 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Cadence Design Systems by 10.8% in the 4th quarter. LPL Financial LLC now owns 359,062 shares of the software maker's stock worth $112,236,000 after buying an additional 34,913 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Cadence Design Systems by 5.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 52,213 shares of the software maker's stock worth $16,321,000 after buying an additional 2,494 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in Cadence Design Systems by 137.2% during the 4th quarter. Manchester Capital Management LLC now owns 465 shares of the software maker's stock worth $145,000 after acquiring an additional 269 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 4.8%

NASDAQ CDNS opened at $394.24 on Tuesday. The stock has a fifty day moving average of $335.44 and a 200-day moving average of $316.51. The stock has a market capitalization of $108.74 billion, a P/E ratio of 91.90, a price-to-earnings-growth ratio of 4.45 and a beta of 1.15. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $1.57 EPS. The firm's 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. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Ratings Changes

CDNS has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target 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. Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a report on Wednesday, February 18th. Citigroup raised their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Piper Sandler raised their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Finally, Robert W. Baird raised their price target on Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $384.41.

Insider Buying and Selling

In other news, CFO John M. Wall sold 21,500 shares of the firm's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $309.45, for a total value of $6,653,175.00. Following the transaction, the chief financial officer directly owned 86,875 shares in the company, valued at $26,883,468.75. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed 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 51,887 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the transaction, the chief executive officer owned 303,525 shares in the company, valued at $112,304,250. This represents a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 176,046 shares of company stock valued at $65,830,801 over 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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