Sumitomo Life Insurance Co. Buys 4,400 Shares of Cadence Design Systems, Inc. $CDNS

Sumitomo Life Insurance Co. grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 22.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,600 shares of the software maker’s stock after purchasing an additional 4,400 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Cadence Design Systems were worth $7,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $26,000. Caitlin John LLC bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $29,000. Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $31,000. Swiss RE Ltd. bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $29,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $30,000. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted 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. Robert W. Baird lifted their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Citigroup lifted their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $386.59.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 21,500 shares of Cadence Design Systems stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the transaction, the chief financial officer directly owned 86,875 shares of the company’s stock, valued at $26,883,468.75. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Friday, May 1st. The stock was sold at an average price of $337.49, for a total transaction of $337,490.00. Following the transaction, the vice president directly owned 127,586 shares of the company’s stock, valued at $43,058,999.14. The trade was a 0.78% decrease in their ownership of the stock. 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 176,226 shares of company stock valued at $65,900,542 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Up 0.3%

Shares of CDNS opened at $384.96 on Friday. The company’s fifty day moving average is $344.32 and its 200 day moving average is $318.73. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The stock has a market capitalization of $106.18 billion, a PE ratio of 89.73, a P/E/G ratio of 4.54 and a beta of 1.15. 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 (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.57 earnings per share. 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. Sell-side analysts expect that Cadence Design Systems, Inc. will post 6.23 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.