Manning & Napier Advisors LLC Has $122.60 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Manning & Napier Advisors LLC reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 46.0% during the 4th quarter, HoldingsChannel reports. The firm owned 388,454 shares of the software maker’s stock after selling 330,864 shares during the quarter. Cadence Design Systems makes up approximately 1.6% of Manning & Napier Advisors LLC’s holdings, making the stock its 21st biggest holding. Manning & Napier Advisors LLC’s holdings in Cadence Design Systems were worth $122,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CDNS. Y.D. More Investments Ltd acquired a new stake in Cadence Design Systems in the 3rd quarter valued at $26,000. Caitlin John LLC acquired a new position in Cadence Design Systems during the third quarter worth $29,000. Lodestone Wealth Management LLC bought a new position in shares of Cadence Design Systems during the fourth quarter valued at $30,000. Imprint Wealth LLC bought a new position in shares of Cadence Design Systems during the third quarter valued at $31,000. Finally, Strategic Wealth Investment Group LLC acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $32,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 1.6%

Shares of NASDAQ:CDNS opened at $362.70 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a market cap of $100.04 billion, a P/E ratio of 84.55, a P/E/G ratio of 4.23 and a beta of 1.13. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $376.45. The company’s 50-day moving average price is $300.45 and its two-hundred day moving average price is $309.70.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 6.22 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the completion of the sale, the director owned 7,470 shares in the company, valued at $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares in the company, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,180 shares of company stock worth $12,924,790 in the last quarter. 0.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDNS. Citigroup increased their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Finally, Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a research report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $380.59.

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.