Ithaka Group LLC Grows Position in Cadence Design Systems, Inc. $CDNS

Ithaka Group LLC raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 46.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,606 shares of the software maker’s stock after purchasing an additional 12,606 shares during the quarter. Cadence Design Systems comprises 2.4% of Ithaka Group LLC’s holdings, making the stock its 18th biggest position. Ithaka Group LLC’s holdings in Cadence Design Systems were worth $13,912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Close Asset Management Ltd increased its position in shares of Cadence Design Systems by 577.5% in the 3rd quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock valued at $199,088,000 after acquiring an additional 483,039 shares during the period. Xponance Inc. grew its stake in Cadence Design Systems by 1.8% during the 3rd quarter. Xponance Inc. now owns 72,496 shares of the software maker’s stock valued at $25,465,000 after purchasing an additional 1,295 shares during the last quarter. Choreo LLC grew its stake in Cadence Design Systems by 14.9% during the 3rd quarter. Choreo LLC now owns 8,464 shares of the software maker’s stock valued at $2,973,000 after purchasing an additional 1,096 shares during the last quarter. West Family Investments Inc. increased its holdings in shares of Cadence Design Systems by 2.2% in the third quarter. West Family Investments Inc. now owns 1,559 shares of the software maker’s stock valued at $548,000 after purchasing an additional 33 shares during the period. Finally, Interchange Capital Partners LLC raised its stake in shares of Cadence Design Systems by 20.1% in the third quarter. Interchange Capital Partners LLC now owns 2,489 shares of the software maker’s stock worth $874,000 after purchasing an additional 417 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 1.4%

Shares of Cadence Design Systems stock opened at $297.60 on Friday. The firm has a 50-day simple moving average of $305.98 and a two-hundred day simple moving average of $326.24. The company has a market cap of $81.14 billion, a P/E ratio of 73.30, a price-to-earnings-growth ratio of 3.61 and a beta of 1.01. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $1.88 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anirudh Devgan sold 20,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at approximately $66,586,960. The trade was a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total transaction of $60,746.40. Following the transaction, the director directly owned 7,650 shares in the company, valued at approximately $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 56,475 shares of company stock valued at $18,505,486. 1.99% of the stock is owned by insiders.

Analyst Ratings Changes

CDNS has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a report on Monday, December 1st. Wells Fargo & Company lowered their price target on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Morgan Stanley cut their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $376.50.

Cadence Design Systems 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.