Magnetar Financial LLC Acquires 18,766 Shares of Cadence Design Systems, Inc. $CDNS

Magnetar Financial LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 664.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,591 shares of the software maker’s stock after acquiring an additional 18,766 shares during the period. Magnetar Financial LLC’s holdings in Cadence Design Systems were worth $7,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Peterson Wealth Services grew its stake in Cadence Design Systems by 1,501.3% in the 3rd quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock worth $65,726,000 after buying an additional 175,430 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Cadence Design Systems by 83.3% during the 3rd quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock valued at $64,052,000 after buying an additional 82,856 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth $6,177,000. Patton Fund Management Inc. grew its position in Cadence Design Systems by 1,743.7% in the third quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock worth $4,916,000 after acquiring an additional 13,235 shares in the last quarter. Finally, Westerkirk Capital Inc. purchased a new position in Cadence Design Systems in the second quarter worth $2,024,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $293.29 on Wednesday. The firm has a fifty day simple moving average of $303.22 and a two-hundred day simple moving average of $323.10. The company has a quick ratio of 2.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.45. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market capitalization of $79.97 billion, a PE ratio of 72.24, a P/E/G ratio of 3.58 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. 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. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total transaction of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares in the company, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,810 shares of company stock valued at $9,767,972 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CDNS. Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a research report on Wednesday, February 18th. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Needham & Company LLC reiterated a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Rosenblatt Securities reissued a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a report on Thursday, February 26th. Finally, Morgan Stanley dropped their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $376.50.

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.