Xponance LLC Acquires 3,562 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Xponance LLC increased its stake in Cadence Design Systems by 4.9% in the fourth quarter, buying 3,562 additional shares and bringing its total holding to 76,058 shares valued at about $23.8 million.
• Institutional ownership remains very high, with several other funds also adding to positions; the article notes that 84.85% of Cadence’s stock is owned by institutional investors.
• Cadence posted solid quarterly results, with earnings of $1.96 per share and revenue of $1.47 billion, both slightly ahead of analyst expectations, while revenue rose 18.6% year over year.

Xponance LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,058 shares of the software maker's stock after acquiring an additional 3,562 shares during the quarter. Xponance LLC's holdings in Cadence Design Systems were worth $23,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Norges Bank bought a new position in shares of Cadence Design Systems during the fourth quarter valued at about $1,352,922,000. Assenagon Asset Management S.A. raised its stake in shares of Cadence Design Systems by 120.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker's stock valued at $351,470,000 after acquiring an additional 615,440 shares during the last quarter. Scge Management L.P. bought a new position in shares of Cadence Design Systems during the second quarter valued at about $187,663,000. Invesco Ltd. raised its stake in shares of Cadence Design Systems by 20.4% during the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker's stock valued at $1,033,669,000 after acquiring an additional 499,009 shares during the last quarter. Finally, Close Asset Management Ltd raised its stake 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 valued at $199,088,000 after acquiring an additional 483,039 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Scannell sold 7,081 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the sale, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $337.49, for a total transaction of $337,490.00. Following the sale, the vice president owned 127,586 shares in the company, valued at approximately $43,058,999.14. The trade was a 0.78% 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 a total of 176,046 shares of company stock worth $65,830,801 in the last ninety days. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Price Performance

Shares of CDNS opened at $383.74 on Friday. The stock has a market cap of $105.84 billion, a PE ratio of 89.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. 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, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm's 50-day simple moving average is $342.23 and its two-hundred day simple moving average is $318.27.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business's revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. 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. Analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Piper Sandler boosted their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Morgan Stanley reduced their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Robert W. Baird boosted their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $386.59.

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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