Daiichi Life Insurance Co. Ltd. Purchases New Position in Cadence Design Systems, Inc. $CDNS

Daiichi Life Insurance Co. Ltd. purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,166 shares of the software maker’s stock, valued at approximately $13,949,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cadence Design Systems by 1.1% in 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 buying an additional 307,753 shares in the last quarter. State Street Corp raised its stake in Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after acquiring an additional 135,206 shares in the last quarter. Geode Capital Management LLC raised its stake in Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after acquiring an additional 92,152 shares in the last quarter. Norges Bank acquired a new stake in Cadence Design Systems during the 4th quarter worth $1,352,922,000. Finally, Van ECK Associates Corp lifted its position in 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 valued at $1,104,714,000 after acquiring an additional 376,654 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In related news, Director James D. Plummer sold 1,511 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the transaction, the director owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 89,599 shares of company stock valued at $35,710,627. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Up 1.7%

Shares of NASDAQ:CDNS opened at $319.02 on Friday. The stock has a market cap of $87.85 billion, a P/E ratio of 63.42, a P/E/G ratio of 3.42 and a beta of 1.15. The firm has a fifty day moving average price of $353.70 and a 200 day moving average price of $331.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Sell-side analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on CDNS shares. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a report on Wednesday, May 27th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 29th. Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Rosenblatt Securities upped their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

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.