Manchester Global Management UK Ltd Grows Stock Position in Cadence Design Systems, Inc. $CDNS

Manchester Global Management UK Ltd increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,150 shares of the software maker’s stock after buying an additional 29,450 shares during the quarter. Cadence Design Systems comprises approximately 3.9% of Manchester Global Management UK Ltd’s portfolio, making the stock its 13th biggest holding. Manchester Global Management UK Ltd’s holdings in Cadence Design Systems were worth $29,117,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd purchased a new position in Cadence Design Systems during the third quarter worth about $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in Cadence Design Systems during the fourth quarter worth about $28,000. Caitlin John LLC purchased a new position in Cadence Design Systems during the third quarter worth about $29,000. Swiss RE Ltd. purchased a new position in Cadence Design Systems during the fourth quarter worth about $29,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems during the fourth quarter worth about $30,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Robert W. Baird upped their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Wells Fargo & Company upped their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Citigroup upped their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Rosenblatt Securities restated a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.59.

Insiders Place Their Bets

In other news, Director James D. Plummer sold 1,511 shares of the 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 sale, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 177,557 shares of company stock valued at $66,423,642. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

CDNS stock opened at $387.85 on Wednesday. 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 1 year low of $262.75 and a 1 year high of $416.69. The firm has a market cap of $106.98 billion, a P/E ratio of 90.41, a price-to-earnings-growth ratio of 4.67 and a beta of 1.15. The stock has a 50-day simple moving average of $348.82 and a 200-day simple moving average of $320.05.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $1.57 earnings per share. The company’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. On average, equities analysts predict that Cadence Design Systems, Inc. will post 6.23 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.