Firetrail Investments PTY Ltd. Purchases New Shares in Cadence Design Systems, Inc. $CDNS

Firetrail Investments PTY Ltd. acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,525 shares of the software maker’s stock, valued at approximately $3,620,000. Cadence Design Systems accounts for about 1.2% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 29th largest holding.

Several other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in shares of Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after acquiring an additional 731,788 shares during the period. Assenagon Asset Management S.A. raised its holdings in Cadence Design Systems by 120.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after purchasing an additional 615,440 shares during the period. Scge Management L.P. acquired a new position in Cadence Design Systems in the 2nd quarter worth about $187,663,000. Invesco Ltd. boosted its position in Cadence Design Systems by 20.4% during the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after purchasing an additional 499,009 shares in the last quarter. Finally, Close Asset Management Ltd boosted its position in Cadence Design Systems by 577.5% during the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after purchasing an additional 483,039 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $362.70 on Friday. The stock has a market capitalization of $100.04 billion, a P/E ratio of 84.55, a PEG ratio of 4.30 and a beta of 1.13. The business has a 50 day simple moving average of $300.45 and a two-hundred day simple moving average of $309.70. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $376.45. 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 (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $1.57 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. 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. As a group, analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, CFO John M. Wall sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the completion of the sale, the chief financial officer owned 81,875 shares of the company’s stock, valued at $28,550,631.25. This represents a 5.76% 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 Scannell sold 10,500 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the sale, the vice president owned 33,946 shares of the company’s stock, valued at $11,507,694. This trade represents a 23.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 40,180 shares of company stock worth $12,924,790. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Morgan Stanley dropped their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Finally, Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $380.59.

Cadence Design Systems 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.