Legal & General Group Plc Invests $702.62 Million in Cadence Design Systems, Inc. $CDNS

Legal & General Group Plc acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,872,042 shares of the software maker’s stock, valued at approximately $702,615,000. Legal & General Group Plc owned approximately 0.68% of Cadence Design Systems as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its holdings in shares of Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. lifted its holdings in shares of Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $28,000. Swiss RE Ltd. acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $29,000. Finally, Avalon Trust Co bought a new stake in Cadence Design Systems during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 51,822 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $395.00, for a total transaction of $20,469,690.00. Following the completion of the transaction, the chief executive officer owned 278,524 shares in the company, valued at approximately $110,016,980. This represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the transaction, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. 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. Insiders have sold a total of 89,599 shares of company stock valued at $35,710,627 in the last three months. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CDNS shares. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Robert W. Baird upped their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Stifel Nicolaus increased their price objective 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. Weiss Ratings upgraded shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $405.69.

Cadence Design Systems Stock Down 1.0%

Shares of Cadence Design Systems stock opened at $315.92 on Tuesday. The business’s 50 day simple moving average is $352.12 and its 200 day simple moving average is $331.88. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The firm has a market cap of $87.00 billion, a PE ratio of 62.81, a P/E/G ratio of 3.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share 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.