ProShare Advisors LLC Grows Holdings in Cadence Design Systems, Inc. $CDNS

ProShare Advisors LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 37.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 484,597 shares of the software maker’s stock after acquiring an additional 131,097 shares during the quarter. ProShare Advisors LLC’s holdings in Cadence Design Systems were worth $151,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd purchased a new stake in Cadence Design Systems in the 3rd quarter worth approximately $26,000. Caitlin John LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth approximately $29,000. Lodestone Wealth Management LLC purchased a new stake in Cadence Design Systems in the 4th quarter worth approximately $30,000. Imprint Wealth LLC purchased a new stake in Cadence Design Systems in the 3rd quarter worth approximately $31,000. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $32,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 0.4%

CDNS stock opened at $345.99 on Tuesday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year 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. The company has a market capitalization of $95.43 billion, a price-to-earnings ratio of 80.65, a PEG ratio of 4.11 and a beta of 1.13. The business has a 50 day simple moving average of $307.96 and a two-hundred day simple moving average of $310.52.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $1.57 EPS. The firm’s revenue for the quarter 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. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on CDNS. Robert W. Baird increased their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Piper Sandler increased their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Citigroup increased their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley dropped their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Fourteen 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $380.59.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 10,500 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the transaction, the vice president directly owned 33,946 shares in the company, valued at approximately $11,507,694. This represents a 23.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the transaction, the chief financial officer owned 86,875 shares of the company’s stock, valued at $26,883,468.75. This represents a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 40,180 shares of company stock valued at $12,924,790. 0.49% of the stock is owned by company insiders.

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.