Cadence Design Systems, Inc. $CDNS Shares Bought by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,941 shares of the software maker’s stock after buying an additional 12,495 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Cadence Design Systems were worth $14,711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CDNS. Vanguard Group Inc. grew its holdings in shares of Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after purchasing an additional 307,753 shares during the period. State Street Corp increased its position in 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 raised its stake in 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 worth $2,378,707,000 after purchasing an additional 92,152 shares during the period. Norges Bank purchased a new position in Cadence Design Systems during the fourth quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp boosted its holdings in Cadence Design Systems by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after purchasing an additional 376,654 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president owned 32,181 shares of the company’s stock, valued at $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the transaction, the vice president owned 126,586 shares in the company, valued at $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. 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 have sold 157,057 shares of company stock worth $60,272,277 in the last three months. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird increased their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Stifel Nicolaus lifted their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Benchmark assumed coverage on Cadence Design Systems in a report on Wednesday, July 15th. They issued a “buy” rating and a $450.00 price objective on the stock. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, KeyCorp raised their target price 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. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Cadence Design Systems Trading Down 1.3%

Shares of CDNS stock opened at $326.24 on Friday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The firm has a market cap of $89.98 billion, a PE ratio of 76.05, a price-to-earnings-growth ratio of 3.86 and a beta of 1.15. The company has a 50-day moving average of $373.92 and a two-hundred day moving average of $329.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $1.57 EPS. The business’s revenue was up 18.6% on a year-over-year basis. 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. On average, analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Cadence Design Systems Company 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.