Cadence Design Systems, Inc. $CDNS Shares Sold by Strs Ohio

Strs Ohio cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,832 shares of the software maker’s stock after selling 2,490 shares during the period. Strs Ohio’s holdings in Cadence Design Systems were worth $19,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CDNS. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems during the third quarter worth approximately $26,000. Caitlin John LLC acquired a new position in shares of Cadence Design Systems during the third quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $30,000. Imprint Wealth LLC acquired a new stake in Cadence Design Systems in the third quarter worth approximately $31,000. Finally, Strategic Wealth Investment Group LLC acquired a new stake in Cadence Design Systems in the second quarter worth approximately $32,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO John M. Wall sold 21,500 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the transaction, the chief financial officer owned 86,875 shares in the company, valued at $26,883,468.75. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 dated Wednesday, April 1st. The stock was sold at an average price of $280.19, for a total value of $280,190.00. Following the completion of the transaction, the vice president directly owned 128,586 shares in the company, valued at $36,028,511.34. This represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,680 shares of company stock valued at $7,284,250 over the last three months. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS opened at $340.94 on Monday. The company has a market capitalization of $94.13 billion, a price-to-earnings ratio of 79.47, a price-to-earnings-growth ratio of 4.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $376.45. The business has a 50 day moving average price of $296.48 and a two-hundred day moving average price of $309.06.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 predict that Cadence Design Systems, Inc. will post 6.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Citigroup upped 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. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Rosenblatt Securities restated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Finally, KeyCorp upped their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.59.

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.