Fred Alger Management LLC Has $21.50 Million Holdings in Cadence Design Systems, Inc. $CDNS

Fred Alger Management LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 63.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,195 shares of the software maker’s stock after selling 105,617 shares during the quarter. Fred Alger Management LLC’s holdings in Cadence Design Systems were worth $21,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cadence Design Systems in the second quarter valued at $1,190,618,000. Massachusetts Financial Services Co. MA increased its position in shares of Cadence Design Systems by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after acquiring an additional 731,788 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Cadence Design Systems by 914.2% in the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock worth $242,746,000 after acquiring an additional 622,934 shares during the last quarter. Scge Management L.P. acquired a new stake in shares of Cadence Design Systems in the 2nd quarter worth about $187,663,000. Finally, Invesco Ltd. lifted its position in Cadence Design Systems by 20.4% in the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock valued at $1,033,669,000 after acquiring an additional 499,009 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Citigroup began coverage on Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective for the company. Morgan Stanley dropped their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Piper Sandler decreased their price target on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, Wells Fargo & Company lowered their price target 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $376.50.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction 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 sale, the vice president directly owned 94,137 shares in the company, valued at approximately $28,032,115.86. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 3,005 shares of company stock worth $910,133 in the last 90 days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.0%

NASDAQ:CDNS opened at $292.72 on Tuesday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a 50-day moving average price of $301.77 and a two-hundred day moving average price of $321.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. The firm has a market cap of $79.81 billion, a price-to-earnings ratio of 72.10, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate 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 was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 EPS. 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. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share 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.