Manning & Napier Advisors LLC Trims Stake in Cadence Design Systems, Inc. $CDNS

Manning & Napier Advisors LLC lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,915 shares of the software maker’s stock after selling 18,539 shares during the quarter. Cadence Design Systems comprises about 1.4% of Manning & Napier Advisors LLC’s portfolio, making the stock its 19th biggest holding. Manning & Napier Advisors LLC owned about 0.13% of Cadence Design Systems worth $102,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its stake in Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings in Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Cadence Design Systems in the fourth quarter valued at $28,000. Swiss RE Ltd. purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at about $29,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems during the fourth quarter worth approximately $30,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup lifted their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Rosenblatt Securities reiterated a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Piper Sandler increased their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $387.00.

Cadence Design Systems Trading Down 0.5%

Shares of NASDAQ:CDNS traded down $1.78 during midday trading on Friday, reaching $384.17. The company’s stock had a trading volume of 940,471 shares, compared to its average volume of 2,166,228. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The business has a 50 day moving average price of $374.82 and a 200 day moving average price of $326.95. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a market cap of $105.96 billion, a price-to-earnings ratio of 89.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion for 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%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Buying and Selling

In related news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the transaction, the vice president owned 126,586 shares in the company, valued at approximately $49,495,126. This represents a 1.56% decrease in their position. 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. Over the last quarter, insiders sold 178,557 shares of company stock worth $66,925,452. Corporate insiders own 0.49% of the company’s stock.

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.