Resona Asset Management Co. Ltd. Has $24.70 Million Stake in Cadence Design Systems, Inc. $CDNS

Resona Asset Management Co. Ltd. raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 89,290 shares of the software maker’s stock after buying an additional 2,019 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cadence Design Systems were worth $24,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. boosted its position 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 worth $27,000 after acquiring an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems in the fourth quarter valued at approximately $28,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems during the fourth quarter valued at approximately $29,000. Lodestone Wealth Management LLC acquired a new position in Cadence Design Systems during the fourth quarter valued at approximately $30,000. Finally, Imprint Wealth LLC bought a new stake in Cadence Design Systems during the third quarter worth $31,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is owned by insiders.

Cadence Design Systems Trading Up 3.2%

NASDAQ:CDNS opened at $385.95 on Friday. The firm’s fifty day moving average is $373.74 and its 200-day moving average is $326.54. 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 52 week low of $262.75 and a 52 week high of $416.69. The firm has a market cap of $106.45 billion, a P/E ratio of 89.97, a P/E/G ratio of 4.43 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share 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 net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter 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. Equities analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Citigroup raised their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler lifted their price target 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. Finally, KeyCorp boosted their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

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.