1,309 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Storgate LLC

Storgate LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,309 shares of the software maker’s stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNS. Norges Bank bought a new position in Cadence Design Systems during the fourth quarter worth about $1,352,922,000. Assenagon Asset Management S.A. grew its holdings in Cadence Design Systems by 120.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after purchasing an additional 615,440 shares during the period. Scge Management L.P. bought a new position in Cadence Design Systems during the second quarter worth about $187,663,000. Invesco Ltd. grew its holdings in Cadence Design Systems by 20.4% during the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after purchasing an additional 499,009 shares during the period. Finally, Close Asset Management Ltd grew its holdings in Cadence Design Systems by 577.5% during the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after purchasing an additional 483,039 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the transaction, the vice president directly owned 33,946 shares in the company, valued at $11,507,694. This represents a 23.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 176,226 shares of company stock valued at $65,900,542 over the last ninety days. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. KeyCorp increased their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Piper Sandler increased their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a report on Wednesday, May 27th. Citigroup increased their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems Stock Up 0.3%

Shares of CDNS opened at $384.96 on Friday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The firm’s 50 day moving average is $344.32 and its 200-day moving average is $318.73. The stock has a market capitalization of $106.18 billion, a PE ratio of 89.73, a P/E/G ratio of 4.54 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $1.57 earnings per share. The business’s revenue for the quarter 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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

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.