State Street Corp Has $3.94 Billion Stock Holdings in Cadence Design Systems, Inc. $CDNS

State Street Corp raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,603,368 shares of the software maker’s stock after acquiring an additional 135,206 shares during the period. State Street Corp’s holdings in Cadence Design Systems were worth $3,939,561,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CDNS. Van ECK Associates Corp lifted its position in shares of Cadence Design Systems by 11.9% during the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after purchasing an additional 376,654 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Cadence Design Systems by 1.6% during the fourth quarter. Victory Capital Management Inc. now owns 328,657 shares of the software maker’s stock valued at $102,732,000 after purchasing an additional 5,230 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Cadence Design Systems by 1.2% during the fourth quarter. Vontobel Holding Ltd. now owns 226,667 shares of the software maker’s stock valued at $70,852,000 after purchasing an additional 2,604 shares in the last quarter. Storgate LLC bought a new position in shares of Cadence Design Systems during the fourth quarter valued at about $409,000. Finally, Martingale Asset Management L P lifted its position in shares of Cadence Design Systems by 11.8% during the fourth quarter. Martingale Asset Management L P now owns 9,716 shares of the software maker’s stock valued at $3,037,000 after purchasing an additional 1,028 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 5,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, May 5th. The stock was 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 directly owned 81,875 shares in the company, valued at approximately $28,550,631.25. This represents a 5.76% decrease in their position. 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 quarter, insiders have sold 176,226 shares of company stock valued at $65,900,542. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $384.96 on Friday. The firm has a market cap of $106.18 billion, a price-to-earnings 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, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The firm’s 50-day simple moving average is $344.32 and its two-hundred day simple moving average is $318.73.

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, 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 for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDNS. Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. 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 report on Wednesday, February 18th. Citigroup raised their price target 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. Robert W. Baird raised their price target 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research report on Friday, April 24th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $386.59.

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.