Cadence Design Systems, Inc. $CDNS Shares Purchased by Close Asset Management Ltd

Close Asset Management Ltd raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 577.5% during the third quarter, HoldingsChannel.com reports. The firm owned 566,679 shares of the software maker’s stock after acquiring an additional 483,039 shares during the quarter. Cadence Design Systems makes up 4.4% of Close Asset Management Ltd’s portfolio, making the stock its 7th biggest position. Close Asset Management Ltd’s holdings in Cadence Design Systems were worth $199,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Xponance Inc. raised its stake in shares of Cadence Design Systems by 1.8% during the third quarter. Xponance Inc. now owns 72,496 shares of the software maker’s stock worth $25,465,000 after buying an additional 1,295 shares during the last quarter. Choreo LLC raised its position in shares of Cadence Design Systems by 14.9% during the 3rd quarter. Choreo LLC now owns 8,464 shares of the software maker’s stock valued at $2,973,000 after acquiring an additional 1,096 shares during the last quarter. West Family Investments Inc. lifted its stake in shares of Cadence Design Systems by 2.2% in the 3rd quarter. West Family Investments Inc. now owns 1,559 shares of the software maker’s stock valued at $548,000 after purchasing an additional 33 shares during the period. Interchange Capital Partners LLC boosted its position in shares of Cadence Design Systems by 20.1% in the 3rd quarter. Interchange Capital Partners LLC now owns 2,489 shares of the software maker’s stock worth $874,000 after purchasing an additional 417 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Cadence Design Systems by 0.6% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 706,361 shares of the software maker’s stock worth $248,116,000 after purchasing an additional 4,215 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $297.60 on Friday. The firm has a market cap of $81.14 billion, a P/E ratio of 73.30, a PEG ratio of 3.61 and a beta of 1.01. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. The firm’s 50 day moving average price is $305.98 and its two-hundred day moving average price is $326.24.

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, topping the consensus estimate of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. 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, analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a report on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Morgan Stanley reduced their price objective on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Citigroup initiated coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $376.50.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total value of $295,090.00. Following the sale, the vice president owned 95,137 shares of the company’s stock, valued at approximately $28,073,977.33. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the sale, the vice president owned 20,321 shares in the company, valued at $6,897,557.03. The trade was a 21.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,475 shares of company stock worth $18,505,486. 1.99% of the stock is currently owned by company 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.