Employees Retirement System of Texas Grows Stock Holdings in Cadence Design Systems, Inc. $CDNS

Employees Retirement System of Texas grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,953 shares of the software maker’s stock after purchasing an additional 32,507 shares during the period. Employees Retirement System of Texas owned about 0.09% of Cadence Design Systems worth $89,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Norges Bank bought a new stake in Cadence Design Systems in the 2nd quarter worth approximately $1,190,618,000. Massachusetts Financial Services Co. MA grew its position in Cadence Design Systems by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after acquiring an additional 731,788 shares during the last quarter. Voya Investment Management LLC grew its position in Cadence Design Systems by 914.2% during the third quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after acquiring an additional 622,934 shares during the last quarter. Scge Management L.P. purchased a new position in shares of Cadence Design Systems during the second quarter worth approximately $187,663,000. Finally, Close Asset Management Ltd lifted its holdings in shares of Cadence Design Systems by 577.5% in the 3rd quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after acquiring an additional 483,039 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Morgan Stanley cut their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a research note on Thursday, February 26th. Finally, Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a report on Wednesday, February 18th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $376.50.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the sale, the vice president owned 94,137 shares in the company, valued at approximately $28,032,115.86. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the sale, the chief financial officer owned 69,957 shares in the company, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,810 shares of company stock worth $9,767,972 over the last three months. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Down 1.3%

Shares of NASDAQ CDNS opened at $290.32 on Friday. The firm’s fifty day moving average is $302.41 and its 200 day moving average is $322.67. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $79.16 billion, a price-to-earnings ratio of 71.51, a PEG ratio of 3.53 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $1.88 EPS. The company’s revenue was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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.