Louisiana State Employees Retirement System Buys Shares of 32,000 Cadence Design Systems, Inc. $CDNS

Louisiana State Employees Retirement System bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the first quarter, HoldingsChannel.com reports. The fund bought 32,000 shares of the software maker’s stock, valued at approximately $8,892,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after acquiring an additional 307,753 shares during the period. State Street Corp lifted its position in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after purchasing an additional 92,152 shares during the period. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 11.9% in the fourth 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 hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Shares of CDNS opened at $368.23 on Friday. The company has a 50 day moving average of $362.77 and a two-hundred day moving average of $322.98. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market cap of $101.57 billion, a price-to-earnings ratio of 85.83, a price-to-earnings-growth ratio of 4.41 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The business 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% on a year-over-year basis. During the same quarter last year, the company posted $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 predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the transaction, the vice president owned 126,586 shares of the company’s stock, valued at $49,495,126. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% 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. Insiders sold a total of 179,557 shares of company stock valued at $67,205,642 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. 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 report on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Citigroup lifted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler boosted their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, KeyCorp increased their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $386.59.

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.