Sei Investments Co. Sells 284,958 Shares of Cadence Design Systems, Inc. $CDNS

Sei Investments Co. cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 51.6% during the first quarter, HoldingsChannel.com reports. The firm owned 267,420 shares of the software maker’s stock after selling 284,958 shares during the period. Sei Investments Co.’s holdings in Cadence Design Systems were worth $74,311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CDNS. Alesco Advisors LLC An ESL Co purchased a new stake in Cadence Design Systems during the 1st quarter valued at about $765,000. Fortis Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 4.7% during the first quarter. Fortis Capital Management LLC now owns 25,011 shares of the software maker’s stock worth $6,950,000 after purchasing an additional 1,128 shares during the period. Temasek Holdings Private Ltd lifted its holdings in shares of Cadence Design Systems by 319.5% during the first quarter. Temasek Holdings Private Ltd now owns 749,113 shares of the software maker’s stock worth $208,156,000 after purchasing an additional 570,537 shares during the period. PNC Financial Services Group Inc. boosted its position in Cadence Design Systems by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 374,649 shares of the software maker’s stock valued at $104,104,000 after buying an additional 4,932 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS purchased a new position in Cadence Design Systems during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a legal filing 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, CEO Anirudh Devgan sold 25,005 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the transaction, the chief executive officer owned 253,519 shares of the company’s stock, valued at $105,210,385. This represents a 8.98% 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. Insiders have sold 157,057 shares of company stock worth $60,272,277 in the last ninety days. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $326.24 on Friday. 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, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business’s 50 day moving average is $373.92 and its two-hundred day moving average is $329.27. The company has a market capitalization of $89.98 billion, a P/E ratio of 76.05, a P/E/G ratio of 3.91 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The business had revenue of $1.47 billion during 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 business’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. 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. Analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $375.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Stifel Nicolaus boosted their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Benchmark began coverage on Cadence Design Systems in a research note on Wednesday, July 15th. They issued a “buy” rating and a $450.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average price target of $393.65.

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.