Dai ichi Life Insurance Company Ltd Buys 3,020 Shares of Cadence Design Systems, Inc. $CDNS

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at approximately $28,000. Imprint Wealth LLC purchased a new position in Cadence Design Systems during the 3rd quarter worth $31,000. Whipplewood Advisors LLC raised its position in Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Swiss RE Ltd. purchased a new stake in shares of Cadence Design Systems in the 4th quarter worth $29,000. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $326.24 on Friday. The firm has a market cap of $89.98 billion, a price-to-earnings ratio of 76.05, a PEG ratio of 3.86 and a beta of 1.15. The firm has a 50-day simple moving average of $373.92 and a two-hundred day simple moving average of $329.27. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. 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 released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business earned $1.57 EPS. The company’s 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, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction on 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. This represents a 8.98% 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. Insiders sold 157,057 shares of company stock valued at $60,272,277 over the last quarter. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup raised their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Wells Fargo & Company raised their target price 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. Rosenblatt Securities boosted their price target on shares of Cadence Design Systems from $375.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

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.