Legal & General Group Plc Buys 22,408 Shares of Cadence Design Systems, Inc. $CDNS

Legal & General Group Plc boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,986,468 shares of the software maker’s stock after acquiring an additional 22,408 shares during the period. Legal & General Group Plc’s holdings in Cadence Design Systems were worth $620,930,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CDNS. Assenagon Asset Management S.A. boosted its holdings in Cadence Design Systems by 120.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock valued at $351,470,000 after acquiring an additional 615,440 shares during the last quarter. Scge Management L.P. bought a new stake in Cadence Design Systems in the second quarter valued at approximately $187,663,000. Invesco Ltd. boosted its holdings in Cadence Design Systems by 20.4% in the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock valued at $1,033,669,000 after acquiring an additional 499,009 shares during the last quarter. Close Asset Management Ltd lifted its stake in Cadence Design Systems by 577.5% in the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock valued at $199,088,000 after buying an additional 483,039 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Cadence Design Systems during the 3rd quarter worth approximately $128,767,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $373.59 on Tuesday. 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 $381.55. The stock’s 50 day moving average price is $314.40 and its two-hundred day moving average price is $311.29. The stock has a market capitalization of $103.04 billion, a price-to-earnings ratio of 87.08, a PEG ratio of 4.42 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last issued 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. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. Cadence Design Systems’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, equities analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the transaction, the director directly owned 7,470 shares of the company’s stock, valued at $2,203,874.10. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Scannell sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the transaction, the vice president directly owned 33,946 shares in the company, valued at $11,507,694. The trade was a 23.62% decrease in their ownership of the stock. 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 sold 41,251 shares of company stock valued at $13,294,350 over the last ninety days. Company insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company increased their price target on Cadence Design Systems from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Citigroup increased their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Piper Sandler increased their price target on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $380.59.

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.