Y Intercept Hong Kong Ltd Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Cadence Design Systems during the first quarter, buying 6,567 shares valued at about $1.825 million.
• Institutional interest remains strong, with several other investors adding to or starting stakes; overall, 84.85% of Cadence shares are held by institutions.
• Cadence reported better-than-expected Q1 earnings and revenue, while analysts remain broadly positive: 13 rate the stock a Buy and the average target price is about $387.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,567 shares of the software maker's stock, valued at approximately $1,825,000.

Several other large investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc raised its stake in Cadence Design Systems by 113.9% during the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock valued at $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Sun Financial Inc purchased a new position in shares of Cadence Design Systems in the 4th quarter worth $1,225,000. DDD Partners LLC increased its holdings in shares of Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker's stock worth $13,118,000 after buying an additional 9,024 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Cadence Design Systems in the 4th quarter worth about $1,105,000. Finally, Indivisible Partners purchased a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $4,795,000. 84.85% of the stock is owned by institutional investors.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the transaction, the chief executive officer owned 253,519 shares in the company, valued at approximately $105,210,385. This represents a 8.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 178,557 shares of company stock valued at $66,925,452 in the last ninety days. Corporate insiders own 0.49% of the company's stock.

Cadence Design Systems Stock Up 3.2%

Shares of CDNS opened at $385.95 on Friday. The firm has a fifty day moving average price of $373.74 and a 200-day moving average price of $326.54. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $106.45 billion, a P/E ratio of 89.97, a P/E/G ratio of 4.43 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

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, beating 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 net margin of 21.18% and a return on equity of 28.44%. The firm's revenue for the quarter 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. Equities research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on CDNS shares. KeyCorp lifted their price target on Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Piper Sandler upped their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Stifel Nicolaus raised their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $387.00.

Cadence Design Systems Company 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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