Canal Capital Management LLC Reduces Stake in Cadence Design Systems, Inc. $CDNS

Canal Capital Management LLC lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 87.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,528 shares of the software maker’s stock after selling 10,631 shares during the quarter. Canal Capital Management LLC’s holdings in Cadence Design Systems were worth $478,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC lifted its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after purchasing an additional 676 shares during the period. Integrated Wealth Concepts LLC grew its position in Cadence Design Systems by 3.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in Cadence Design Systems during the 2nd quarter worth about $205,000. Western Wealth Management LLC purchased a new position in shares of Cadence Design Systems during the 2nd quarter valued at about $213,000. Finally, Rothschild Investment LLC raised its stake in shares of Cadence Design Systems by 45.5% during the 2nd quarter. Rothschild Investment LLC now owns 358 shares of the software maker’s stock valued at $110,000 after buying an additional 112 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $287.40 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.45. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The stock’s 50-day moving average price is $300.11 and its 200-day moving average price is $320.66. The stock has a market capitalization of $78.36 billion, a PE ratio of 70.79, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last released 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 company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.Cadence Design Systems’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior 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 expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley lowered their target price on 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Citigroup assumed coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Piper Sandler dropped their price objective on shares of Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a report on Wednesday, February 18th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $376.50.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 7,470 shares of the company’s stock, valued at $2,203,874.10. This represents a 2.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the transaction, the vice president owned 94,137 shares in the company, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,185 shares of company stock valued at $963,238 over the last 90 days. Company insiders own 1.99% of the company’s stock.

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.