PNC Financial Services Group Inc. Increases Holdings in Cadence Design Systems, Inc. $CDNS

PNC Financial Services Group Inc. lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 374,649 shares of the software maker’s stock after acquiring an additional 4,932 shares during the period. PNC Financial Services Group Inc. owned 0.14% of Cadence Design Systems worth $104,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Cadence Design Systems during the fourth quarter valued at approximately $1,352,922,000. J. Stern & Co. LLP boosted its holdings in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Cadence Design Systems by 218.6% in the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after purchasing an additional 1,751,927 shares during the period. Scge Management L.P. bought a new position in shares of Cadence Design Systems during the 2nd quarter valued at approximately $187,663,000. Finally, Amundi increased its position in shares of Cadence Design Systems by 32.8% during the 4th quarter. Amundi now owns 1,984,842 shares of the software maker’s stock valued at $620,430,000 after purchasing an additional 489,930 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $337.01 on Thursday. The firm’s 50 day simple moving average is $374.79 and its 200-day simple moving average is $329.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm has a market cap of $92.95 billion, a PE ratio of 78.56, a price-to-earnings-growth ratio of 4.08 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results 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 analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. Cadence Design Systems’s quarterly revenue 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, equities analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction on 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 in the company, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. 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. Insiders sold a total of 157,057 shares of company stock worth $60,272,277 over the last quarter. Insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird raised their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Benchmark initiated coverage on shares of Cadence Design Systems in a report on Wednesday, July 15th. They issued a “buy” rating and a $450.00 target price for the company. Finally, Citigroup lifted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

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.