Dodge & Cox Sells 5,947 Shares of Cadence Design Systems, Inc. $CDNS

Dodge & Cox reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 240,525 shares of the software maker’s stock after selling 5,947 shares during the period. Dodge & Cox owned approximately 0.09% of Cadence Design Systems worth $84,487,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Cadence Design Systems by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock valued at $9,457,084,000 after acquiring an additional 327,456 shares in the last quarter. State Street Corp boosted its holdings in Cadence Design Systems by 1.4% during the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock worth $3,795,972,000 after purchasing an additional 172,551 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $1,866,739,000 after purchasing an additional 731,788 shares during the last quarter. Norges Bank bought a new position in Cadence Design Systems in the second quarter valued at $1,190,618,000. Finally, Invesco Ltd. increased its stake in Cadence Design Systems by 20.4% in the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock valued at $1,033,669,000 after buying an additional 499,009 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDNS has been the subject of several analyst reports. Piper Sandler decreased their price objective on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Rosenblatt Securities reissued a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research report on Thursday, February 26th. Citigroup began coverage on Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Wells Fargo & Company lowered their price target on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective on the stock in a research note on Monday, December 1st. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $376.50.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total transaction of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares of the company’s stock, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Wall sold 27,805 shares of the stock in a transaction on Tuesday, December 16th. The shares were 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 trade represents a 28.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 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 Trading Down 1.1%

Shares of NASDAQ:CDNS opened at $287.03 on Friday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a market capitalization of $78.26 billion, a P/E ratio of 70.70, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The company has a 50-day simple moving average of $301.94 and a 200 day simple moving average of $322.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. 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. Sell-side analysts forecast 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.