Manning & Napier Advisors LLC Decreases Stock Position in Cadence Design Systems, Inc. $CDNS

Manning & Napier Advisors LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,915 shares of the software maker’s stock after selling 18,539 shares during the period. Cadence Design Systems makes up 1.4% of Manning & Napier Advisors LLC’s portfolio, making the stock its 19th biggest position. Manning & Napier Advisors LLC’s holdings in Cadence Design Systems were worth $102,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDNS. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems in the 4th quarter worth $28,000. Imprint Wealth LLC acquired a new stake in shares of Cadence Design Systems during the third quarter valued at about $31,000. Whipplewood Advisors LLC grew its stake in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Swiss RE Ltd. purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth about $29,000. Finally, Brown Lisle Cummings Inc. increased its position in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a report on Thursday, July 2nd. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. KeyCorp increased their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Citigroup raised their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $387.00.

Insider Buying and Selling

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

Cadence Design Systems Stock Down 0.5%

Shares of CDNS stock traded down $1.78 during trading hours on Friday, hitting $384.17. 940,471 shares of the company were exchanged, compared to its average volume of 2,166,228. 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 one year low of $262.75 and a one year high of $416.69. The business’s 50-day simple moving average is $374.82 and its two-hundred day simple moving average is $326.95. The stock has a market capitalization of $105.96 billion, a price-to-earnings ratio of 89.55, a P/E/G ratio of 4.57 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The business 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 revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

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.