Mirova Buys 5,700 Shares of Cadence Design Systems, Inc. $CDNS

Mirova increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,291 shares of the software maker’s stock after buying an additional 5,700 shares during the period. Cadence Design Systems accounts for about 2.0% of Mirova’s holdings, making the stock its 13th largest holding. Mirova’s holdings in Cadence Design Systems were worth $14,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Occidental Asset Management LLC raised its stake in Cadence Design Systems by 2.3% during the third quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $464,000 after buying an additional 30 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Cadence Design Systems by 0.4% in the third quarter. Whittier Trust Co. now owns 7,072 shares of the software maker’s stock worth $2,456,000 after acquiring an additional 30 shares during the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of Cadence Design Systems by 4.3% in the third quarter. Cornerstone Wealth Group LLC now owns 777 shares of the software maker’s stock worth $273,000 after acquiring an additional 32 shares during the last quarter. KRS Capital Management LLC increased its holdings in shares of Cadence Design Systems by 1.4% during the third quarter. KRS Capital Management LLC now owns 2,425 shares of the software maker’s stock valued at $852,000 after acquiring an additional 33 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Cadence Design Systems by 1.4% during the third quarter. Kathmere Capital Management LLC now owns 2,336 shares of the software maker’s stock valued at $821,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Morgan Stanley dropped 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 report on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a report on Wednesday, February 18th. Piper Sandler reduced their price objective on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a research report on Monday, December 1st. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $376.50.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the completion of the sale, the director owned 7,470 shares of the company’s stock, valued at approximately $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,185 shares of company stock valued at $963,238 in the last three months. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Down 1.4%

CDNS opened at $289.64 on Thursday. The firm’s 50 day simple moving average is $300.74 and its two-hundred day simple moving average is $320.89. The company has a market capitalization of $78.97 billion, a PE ratio of 71.34, a PEG ratio of 3.53 and a beta of 1.00. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a current ratio of 2.86, a quick ratio of 2.67 and a debt-to-equity ratio of 0.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. 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. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.