Elo Mutual Pension Insurance Co Buys 7,138 Shares of Cadence Design Systems, Inc. $CDNS

Elo Mutual Pension Insurance Co grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,687 shares of the software maker’s stock after purchasing an additional 7,138 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Cadence Design Systems were worth $12,184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Cadence Design Systems by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock worth $9,457,084,000 after acquiring an additional 327,456 shares in the last quarter. State Street Corp grew its holdings in shares of Cadence Design Systems by 1.4% in the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after purchasing an additional 172,551 shares in the last quarter. Geode Capital Management LLC raised its stake in Cadence Design Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock valued at $1,952,771,000 after purchasing an additional 77,478 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Cadence Design Systems by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth about $1,190,618,000. 84.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CDNS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Wednesday, February 18th. Piper Sandler cut their target price on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Morgan Stanley lowered their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research note on Thursday. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.50.

Cadence Design Systems Price Performance

CDNS opened at $301.40 on Monday. The company has a current ratio of 2.86, a quick ratio of 2.67 and a debt-to-equity ratio of 0.45. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The business’s fifty day simple moving average is $305.71 and its 200-day simple moving average is $325.55. The company has a market capitalization of $82.18 billion, a price-to-earnings ratio of 74.24, a PEG ratio of 3.60 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.08. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. Cadence Design Systems’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at $66,586,960. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total transaction of $295,090.00. Following the completion of the transaction, the vice president directly owned 95,137 shares in the company, valued at $28,073,977.33. This represents a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,475 shares of company stock worth $18,192,846 over the last 90 days. 0.37% of the stock is currently owned by insiders.

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.