Mackenzie Financial Corp Sells 291,115 Shares of Cadence Design Systems, Inc. $CDNS

Mackenzie Financial Corp lessened its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 53.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,630 shares of the software maker’s stock after selling 291,115 shares during the period. Mackenzie Financial Corp owned 0.09% of Cadence Design Systems worth $90,495,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CDNS. Occidental Asset Management LLC grew its holdings in shares of Cadence Design Systems by 2.3% during the third quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker’s stock worth $464,000 after purchasing an additional 30 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Cadence Design Systems by 0.4% in the third quarter. Whittier Trust Co. now owns 7,072 shares of the software maker’s stock valued at $2,456,000 after buying an additional 30 shares during the period. Cornerstone Wealth Group LLC raised its holdings in Cadence Design Systems by 4.3% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 777 shares of the software maker’s stock valued at $273,000 after buying an additional 32 shares during the last quarter. KRS Capital Management LLC raised its holdings in Cadence Design Systems by 1.4% in the 3rd quarter. KRS Capital Management LLC now owns 2,425 shares of the software maker’s stock valued at $852,000 after buying an additional 33 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its position in Cadence Design Systems by 1.4% during the 3rd quarter. Kathmere Capital Management LLC now owns 2,336 shares of the software maker’s stock worth $821,000 after buying an additional 33 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the transaction, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. The trade was a 28.44% 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. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total transaction of $297,780.00. Following the completion of the transaction, the vice president owned 94,137 shares in the company, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,810 shares of company stock valued at $9,767,972 in the last three months. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $294.16 on Thursday. The company has a market capitalization of $80.20 billion, a PE ratio of 72.45, a P/E/G ratio of 3.52 and a beta of 1.00. The company has a 50 day simple moving average of $302.86 and a two-hundred day simple moving average of $322.90. 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, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

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

Analysts Set New Price Targets

CDNS has been the subject of several recent research reports. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research report on Monday, December 1st. Citigroup started coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price target on the stock. Piper Sandler reduced their price objective on shares of Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Morgan Stanley decreased their price objective on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Finally, Wells Fargo & Company lowered their target price on Cadence Design Systems from $410.00 to $375.00 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’s stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target 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.