Rockefeller Capital Management L.P. Grows Stock Position in Cadence Design Systems, Inc. $CDNS

Rockefeller Capital Management L.P. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 54.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 319,696 shares of the software maker’s stock after acquiring an additional 112,923 shares during the period. Rockefeller Capital Management L.P.’s holdings in Cadence Design Systems were worth $99,931,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sun Financial Inc purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at $1,225,000. MUFG Securities EMEA plc increased its position in Cadence Design Systems by 113.9% during the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after purchasing an additional 5,943 shares in the last quarter. DDD Partners LLC increased its position in Cadence Design Systems by 27.4% during the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock worth $13,118,000 after purchasing an additional 9,024 shares in the last quarter. Leonteq Securities AG acquired a new position in Cadence Design Systems in the 4th quarter valued at about $1,105,000. Finally, Allianz SE acquired a new position in Cadence Design Systems in the 3rd quarter valued at about $1,265,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 179,557 shares of company stock valued at $67,205,642 in the last 90 days. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $387.39 on Friday. The company has a market cap of $106.85 billion, a P/E ratio of 90.30, a P/E/G ratio of 4.59 and a beta of 1.15. The firm’s 50 day moving average is $355.14 and its two-hundred day moving average is $321.63. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. 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 (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 EPS. 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. Analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CDNS shares. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Citigroup boosted their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Stifel Nicolaus boosted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, KeyCorp boosted their price target on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

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.