King Luther Capital Management Corp grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 10.3% during the fourth quarter, Holdings Channel reports. The firm owned 134,953 shares of the software maker’s stock after purchasing an additional 12,637 shares during the quarter. King Luther Capital Management Corp’s holdings in Cadence Design Systems were worth $42,184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of CDNS. Y.D. More Investments Ltd purchased a new stake in Cadence Design Systems during the third quarter worth about $26,000. Caitlin John LLC purchased a new stake in Cadence Design Systems during the third quarter worth about $29,000. Lodestone Wealth Management LLC purchased a new stake in Cadence Design Systems during the fourth quarter worth about $30,000. Imprint Wealth LLC purchased a new stake in Cadence Design Systems during the third quarter worth about $31,000. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems during the second quarter worth about $32,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on CDNS shares. Robert W. Baird boosted their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Rosenblatt Securities restated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. 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 note on Tuesday, April 28th. Finally, Morgan Stanley cut their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $382.06.
Insider Activity at Cadence Design Systems
In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total value of $53,105.40. Following the transaction, the director directly owned 7,470 shares in the company, valued at $2,203,874.10. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 21,500 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the sale, the chief financial officer directly owned 86,875 shares of the company’s stock, valued at $26,883,468.75. The trade was a 19.84% 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. Over the last three months, insiders have sold 41,251 shares of company stock valued at $13,294,350. Company insiders own 0.49% of the company’s stock.
Cadence Design Systems Stock Performance
Shares of Cadence Design Systems stock opened at $381.75 on Wednesday. The firm has a market capitalization of $105.29 billion, a P/E ratio of 88.99, a P/E/G ratio of 4.42 and a beta of 1.13. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $383.24. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $316.29 and its two-hundred day moving average is $311.67.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion for 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 was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.
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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