Principal Financial Group Inc. Has $524.87 Million Position in Cadence Design Systems, Inc. $CDNS

Principal Financial Group Inc. decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,888,874 shares of the software maker’s stock after selling 324,229 shares during the period. Principal Financial Group Inc.’s holdings in Cadence Design Systems were worth $524,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDNS. MUFG Securities EMEA plc increased its position in shares of Cadence Design Systems by 113.9% during the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after acquiring an additional 5,943 shares during the last quarter. Sun Financial Inc purchased a new position in Cadence Design Systems in the fourth quarter valued at about $1,225,000. DDD Partners LLC raised its stake in Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after acquiring an additional 9,024 shares during the period. Leonteq Securities AG bought a new position in Cadence Design Systems in the 4th quarter worth about $1,105,000. Finally, Indivisible Partners purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth $4,795,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Down 1.6%

Cadence Design Systems stock opened at $377.92 on Tuesday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The stock has a fifty day moving average of $375.79 and a 200 day moving average of $327.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a market cap of $104.24 billion, a PE ratio of 88.09, a price-to-earnings-growth ratio of 4.55 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 (EPS) 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 for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm posted $1.57 earnings per share. The business’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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the transaction, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. This trade represents a 1.56% 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. Insiders sold 178,557 shares of company stock valued at $66,925,452 in the last quarter. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Citigroup boosted their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler upped their price objective 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. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Thirteen research 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, the stock currently has an average 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.