Dai ichi Life Insurance Company Ltd Boosts Stock Holdings in Cadence Design Systems, Inc. $CDNS

Dai ichi Life Insurance Company Ltd boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,982 shares of the software maker’s stock after purchasing an additional 3,020 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Cadence Design Systems were worth $6,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after purchasing an additional 307,753 shares during the last quarter. State Street Corp lifted its position in shares of Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after buying an additional 92,152 shares during the last quarter. Norges Bank bought a new position in Cadence Design Systems during the fourth quarter valued at approximately $1,352,922,000. Finally, Van ECK Associates Corp grew its holdings in Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after buying an additional 376,654 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the topic of a number of research reports. KeyCorp lifted their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Citigroup raised their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Rosenblatt Securities boosted their price target on shares of Cadence Design Systems from $375.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $393.65.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $326.24 on Friday. The stock’s fifty day moving average is $373.92 and its 200 day moving average is $329.27. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm has a market capitalization of $89.98 billion, a PE ratio of 76.05, a PEG ratio of 3.86 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. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Cadence Design Systems’s quarterly revenue was up 18.6% compared to the same quarter last year. 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. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the sale, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. The trade was a 14.60% 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. Insiders sold a total of 157,057 shares of company stock worth $60,272,277 in the last three months. 0.49% of the stock is owned by insiders.

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.