Chevy Chase Trust Holdings LLC Acquires 3,123 Shares of Cadence Design Systems, Inc. $CDNS

Chevy Chase Trust Holdings LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 499,139 shares of the software maker’s stock after purchasing an additional 3,123 shares during the period. Cadence Design Systems accounts for about 0.5% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 29th biggest position. Chevy Chase Trust Holdings LLC’s holdings in Cadence Design Systems were worth $175,328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Y.D. More Investments Ltd purchased a new stake in shares of Cadence Design Systems during the 3rd quarter valued at approximately $26,000. Caitlin John LLC purchased a new position in Cadence Design Systems in the 3rd quarter valued at approximately $29,000. Imprint Wealth LLC purchased a new position in Cadence Design Systems in the 3rd quarter valued at approximately $31,000. Robbins Farley bought a new stake in Cadence Design Systems during the 3rd quarter valued at $35,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of Cadence Design Systems during the third quarter worth $35,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 27,805 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at $22,286,201.49. This represents a 28.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the sale, the vice president directly owned 94,137 shares in the company, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,810 shares of company stock valued at $9,767,972. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley cut their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Piper Sandler decreased their price objective on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective on the stock in a report on Monday, December 1st. Wells Fargo & Company cut their target price on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a report on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $376.50.

Cadence Design Systems Stock Down 1.1%

Shares of NASDAQ:CDNS opened at $287.03 on Friday. The firm has a fifty day moving average price of $301.94 and a two-hundred day moving average price of $322.12. The company has a market cap of $78.26 billion, a price-to-earnings ratio of 70.70, a PEG ratio of 3.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.86 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. 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. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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.