QRG Capital Management Inc. Raises Holdings in Cadence Design Systems, Inc. $CDNS

QRG Capital Management Inc. lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 63.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 61,274 shares of the software maker’s stock after acquiring an additional 23,870 shares during the quarter. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $19,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CDNS. Peterson Wealth Services raised its stake in shares of Cadence Design Systems by 1,501.3% in the 3rd quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock worth $65,726,000 after buying an additional 175,430 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth $6,177,000. Thrivent Financial for Lutherans raised its stake in shares of Cadence Design Systems by 301.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 49,999 shares of the software maker’s stock worth $17,563,000 after buying an additional 37,558 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Cadence Design Systems by 62.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 571,278 shares of the software maker’s stock worth $200,667,000 after buying an additional 220,464 shares in the last quarter. Finally, DDD Partners LLC raised its stake in shares of Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock worth $13,118,000 after buying an additional 9,024 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity

In other news, CFO John M. Wall sold 21,500 shares of Cadence Design Systems stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the transaction, the chief financial officer owned 86,875 shares in the company, valued at approximately $26,883,468.75. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction 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 represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 23,680 shares of company stock worth $7,284,250. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $349.51 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $96.50 billion, a price-to-earnings ratio of 81.47, a PEG ratio of 4.04 and a beta of 1.13. The stock’s fifty day simple moving average is $296.48 and its 200 day simple moving average is $309.06. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its 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 for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 EPS. 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, sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a research note on Wednesday, February 18th. Piper Sandler boosted their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. KeyCorp boosted 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. Robert W. Baird lifted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Citigroup lifted their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $380.59.

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.