QRG Capital Management Inc. Has $18.65 Million Stock Position in Cadence Design Systems, Inc. $CDNS

QRG Capital Management Inc. lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 67,105 shares of the software maker’s stock after buying an additional 5,831 shares during the quarter. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $18,647,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cadence Design Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after purchasing an additional 307,753 shares during the period. State Street Corp grew its position in Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares in the last quarter. Geode Capital Management LLC raised its stake in Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after purchasing an additional 92,152 shares during the period. Norges Bank acquired a new stake in Cadence Design Systems during the 4th quarter valued at $1,352,922,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Cadence Design Systems by 11.9% in the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after purchasing an additional 376,654 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $373.14 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The firm’s fifty day simple moving average is $369.80 and its 200-day simple moving average is $324.78. The company has a market capitalization of $102.92 billion, a PE ratio of 86.98, a price-to-earnings-growth ratio of 4.42 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $1.57 earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. 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, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the sale, the vice president directly owned 32,181 shares in the company, valued at $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at $105,210,385. This represents a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Wells Fargo & Company increased their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. KeyCorp lifted their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a 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. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $386.59.

About Cadence Design Systems

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.