Pacer Advisors Inc. Sells 74,565 Shares of Cadence Design Systems, Inc. $CDNS

Pacer Advisors Inc. reduced its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 40.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 107,783 shares of the software maker’s stock after selling 74,565 shares during the quarter. Pacer Advisors Inc.’s holdings in Cadence Design Systems were worth $33,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $1,352,922,000. J. Stern & Co. LLP increased its holdings in Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP increased its holdings in Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after purchasing an additional 1,751,927 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Cadence Design Systems by 120.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock valued at $351,470,000 after buying an additional 615,440 shares during the period. Finally, Scge Management L.P. bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $187,663,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CDNS. Robert W. Baird raised 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 report on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Citigroup raised their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Piper Sandler boosted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.59.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $387.39 on Friday. The company has a market cap of $106.85 billion, a PE ratio of 90.30, a price-to-earnings-growth ratio of 4.59 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The business has a 50 day moving average price of $355.14 and a 200-day moving average price of $321.63.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.Cadence Design Systems’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer owned 253,519 shares in the company, valued at approximately $105,210,385. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares in the company, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,557 shares of company stock worth $67,205,642 in the last ninety days. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Company 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.