Man Group plc Raises Stock Position in Cadence Design Systems, Inc. $CDNS

Man Group plc grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 104.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 597,455 shares of the software maker’s stock after acquiring an additional 305,469 shares during the period. Man Group plc’s holdings in Cadence Design Systems were worth $186,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IHT Wealth Management LLC lifted its holdings in shares of Cadence Design Systems by 14.2% in the 4th quarter. IHT Wealth Management LLC now owns 1,507 shares of the software maker’s stock worth $471,000 after acquiring an additional 187 shares during the last quarter. Investment Management Corp of Ontario lifted its holdings in shares of Cadence Design Systems by 81.9% in the 4th quarter. Investment Management Corp of Ontario now owns 23,385 shares of the software maker’s stock worth $7,310,000 after acquiring an additional 10,530 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Cadence Design Systems by 6.6% in the 4th quarter. Gotham Asset Management LLC now owns 119,278 shares of the software maker’s stock worth $37,284,000 after acquiring an additional 7,396 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter worth about $5,485,000. Finally, Concentric Capital Strategies LP bought a new stake in shares of Cadence Design Systems in the 4th quarter worth about $10,774,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cadence Design Systems

In related news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. This trade represents a 18.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president owned 126,586 shares of the company’s stock, valued at $49,495,126. The trade was a 1.56% 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 179,557 shares of company stock worth $67,205,642 over the last ninety days. 0.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CDNS shares. Piper Sandler raised 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. KeyCorp raised their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Robert W. Baird raised 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. Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Morgan Stanley lowered their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

Cadence Design Systems Trading Up 0.5%

Shares of CDNS opened at $389.60 on Thursday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a 50-day moving average of $351.03 and a 200 day moving average of $320.63. The firm has a market capitalization of $107.46 billion, a price-to-earnings ratio of 90.82, a PEG ratio of 4.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $1.57 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. 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, research analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Cadence Design Systems 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.