11,192 Cadence Design Systems, Inc. $CDNS Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 50.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,934 shares of the software maker’s stock after selling 11,192 shares during the period. Jackson Square Capital LLC’s holdings in Cadence Design Systems were worth $3,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CDNS. Van ECK Associates Corp raised its position in shares of Cadence Design Systems by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock worth $1,835,227,000 after acquiring an additional 874,392 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cadence Design Systems by 1.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after purchasing an additional 48,937 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Cadence Design Systems by 1,097.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,818,141 shares of the software maker’s stock valued at $930,522,000 after purchasing an additional 2,582,812 shares in the last quarter. Amundi boosted its position in shares of Cadence Design Systems by 3.8% during the first quarter. Amundi now owns 2,060,334 shares of the software maker’s stock valued at $572,488,000 after purchasing an additional 75,492 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $702,615,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $285.51, for a total transaction of $51,391.80. Following the sale, the director directly owned 7,824 shares of the company’s stock, valued at approximately $2,233,830.24. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total transaction of $554,240.00. Following the sale, the vice president owned 121,793 shares of the company’s stock, valued at approximately $33,751,276.16. This represents a 1.62% 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 have sold 8,960 shares of company stock valued at $2,834,139 over the last ninety days. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Up 2.5%

Shares of CDNS traded up $8.12 during mid-day trading on Monday, reaching $327.63. The company had a trading volume of 699,226 shares, compared to its average volume of 2,438,860. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The company has a market capitalization of $90.23 billion, a price-to-earnings ratio of 65.15, a price-to-earnings-growth ratio of 3.42 and a beta of 1.13. The firm has a 50-day moving average price of $318.85 and a 200 day moving average price of $339.32. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the company earned $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. On average, sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.41 EPS for the current year.

Analysts Set New Price Targets

CDNS has been the subject of a number of research reports. Oppenheimer reiterated a “market perform” rating and issued a $300.00 price objective (up from $275.00) on shares of Cadence Design Systems in a report on Tuesday, July 28th. The Goldman Sachs Group raised their price objective on Cadence Design Systems from $410.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Rosenblatt Securities boosted their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Monday, October 12th. Finally, FBN Securities started coverage on shares of Cadence Design Systems in a research note on Friday, September 11th. They issued an “outperform” rating and a $375.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $404.14.

Cadence Design Systems Profile

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.