Tensor Edge Capital LLC Acquires New Shares in Cadence Design Systems, Inc. $CDNS

Tensor Edge Capital LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,500 shares of the software maker’s stock, valued at approximately $27,926,000. Cadence Design Systems accounts for about 4.8% of Tensor Edge Capital LLC’s holdings, making the stock its 11th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDNS. MUFG Securities EMEA plc boosted its position in shares of Cadence Design Systems by 113.9% during the fourth 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. Sun Financial Inc bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at $1,225,000. DDD Partners LLC raised its stake 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 buying an additional 9,024 shares during the period. Leonteq Securities AG acquired a new stake in Cadence Design Systems during the 4th quarter worth $1,105,000. Finally, Indivisible Partners bought a new position in Cadence Design Systems during the fourth quarter worth about $4,795,000. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CDNS shares. Wells Fargo & Company boosted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research report on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research report on Friday, April 24th. Citigroup lifted their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $386.59.

Insider Buying and Selling

In other news, CEO Anirudh Devgan sold 25,005 shares of the company’s stock in a transaction dated 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 transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director directly owned 8,004 shares of the company’s stock, 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. Over the last quarter, insiders sold 178,557 shares of company stock valued at $66,925,452. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $373.14 on Friday. The firm has a market cap of $102.92 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 4.42 and a beta of 1.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company’s fifty day simple moving average is $369.80 and its 200 day simple moving average is $324.78. 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 earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during 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%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business 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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

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.