Handelsbanken Fonder AB Purchases 19,426 Shares of Cadence Design Systems, Inc. $CDNS

Handelsbanken Fonder AB increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 19.5% during the third quarter, HoldingsChannel.com reports. The fund owned 119,074 shares of the software maker’s stock after acquiring an additional 19,426 shares during the period. Handelsbanken Fonder AB’s holdings in Cadence Design Systems were worth $41,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CDNS. Ithaka Group LLC grew its position in shares of Cadence Design Systems by 46.7% during the 3rd quarter. Ithaka Group LLC now owns 39,606 shares of the software maker’s stock valued at $13,912,000 after purchasing an additional 12,606 shares in the last quarter. Close Asset Management Ltd boosted its stake 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 valued at $199,088,000 after buying an additional 483,039 shares during the period. Xponance Inc. grew its position in 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 in the last quarter. Choreo LLC grew its position in Cadence Design Systems by 14.9% during the third quarter. Choreo LLC now owns 8,464 shares of the software maker’s stock worth $2,973,000 after buying an additional 1,096 shares in the last quarter. Finally, West Family Investments Inc. increased its stake in 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 worth $548,000 after acquiring an additional 33 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $295.09, for a total value of $295,090.00. Following the transaction, the vice president owned 95,137 shares in the company, valued at approximately $28,073,977.33. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the stock in a transaction dated 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 sale, the vice president owned 20,321 shares of the company’s stock, valued at $6,897,557.03. This represents a 21.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 56,475 shares of company stock valued at $18,505,486. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 1.3%

CDNS stock opened at $301.40 on Friday. The company has a market capitalization of $82.18 billion, a PE ratio of 74.24, a price-to-earnings-growth ratio of 3.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company’s 50 day moving average price is $305.71 and its two-hundred day moving average price is $325.91.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. 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. As a group, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CDNS. Piper Sandler dropped their price target on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Wells Fargo & Company dropped their target price on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Thursday. Finally, Morgan Stanley lowered 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 report on Wednesday, February 18th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $376.50.

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.