DNB Asset Management AS Buys 1,945 Shares of Cadence Design Systems, Inc. $CDNS

DNB Asset Management AS boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 56,389 shares of the software maker’s stock after purchasing an additional 1,945 shares during the quarter. DNB Asset Management AS’s holdings in Cadence Design Systems were worth $17,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CDNS. Y.D. More Investments Ltd purchased a new stake in Cadence Design Systems in the 3rd quarter worth $26,000. Caitlin John LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth $29,000. Lodestone Wealth Management LLC purchased a new stake in Cadence Design Systems in the 4th quarter worth $30,000. Imprint Wealth LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth $31,000. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 1.6%

CDNS opened at $347.24 on Friday. The firm has a market cap of $95.78 billion, a P/E ratio of 80.94, a P/E/G ratio of 4.11 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 has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $307.04 and a 200 day moving average of $310.77.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business 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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CDNS shares. 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 research note on Wednesday, February 18th. KeyCorp increased their price target on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Citigroup raised their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average price target of $380.59.

Insider Buying and Selling

In related news, CFO John M. Wall sold 21,500 shares of Cadence Design Systems stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the transaction, the chief financial officer owned 86,875 shares in the company, valued at approximately $26,883,468.75. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the firm’s stock in a transaction dated 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 directly owned 7,470 shares of the company’s stock, valued at approximately $2,203,874.10. The trade was a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,180 shares of company stock worth $12,924,790. Insiders own 0.49% of the company’s stock.

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.