Strs Ohio cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 5.8% in the first quarter, Holdings Channel reports. The firm owned 58,228 shares of the software maker’s stock after selling 3,604 shares during the period. Strs Ohio’s holdings in Cadence Design Systems were worth $16,180,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CDNS. Vanguard Group Inc. increased its holdings in Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after buying an additional 307,753 shares during the last quarter. State Street Corp lifted its stake in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after acquiring an additional 135,206 shares during the last quarter. Geode Capital Management LLC grew its position in Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after acquiring an additional 92,152 shares in the last quarter. Norges Bank bought a new stake in Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. Finally, Van ECK Associates Corp increased its stake in shares of Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after purchasing an additional 376,654 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Cadence Design Systems
In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the sale, the chief executive officer owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% decrease in their position. 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 178,557 shares of company stock worth $66,925,452. Insiders own 0.49% of the company’s stock.
Cadence Design Systems Stock Performance
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) 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 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 quarterly revenue was up 18.6% compared to the same quarter last year. During the same period 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. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CDNS. Stifel Nicolaus lifted their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Citigroup raised their target price on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Robert W. Baird increased their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research note on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $386.59.
Get Our Latest Stock Report on Cadence Design Systems
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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