Cadence Design Systems, Inc. $CDNS Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 54.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,757 shares of the software maker’s stock after selling 2,064 shares during the quarter. DAVENPORT & Co LLC’s holdings in Cadence Design Systems were worth $549,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CDNS. Massachusetts Financial Services Co. MA raised its position in shares of Cadence Design Systems by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after buying an additional 731,788 shares during the last quarter. Voya Investment Management LLC boosted its position in Cadence Design Systems by 914.2% during the third quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock worth $242,746,000 after acquiring an additional 622,934 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Cadence Design Systems by 120.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after acquiring an additional 615,440 shares during the last quarter. Scge Management L.P. purchased a new stake in Cadence Design Systems during the 2nd quarter valued at about $187,663,000. Finally, Invesco Ltd. grew its stake in Cadence Design Systems by 20.4% during the 3rd 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 in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CDNS. Morgan Stanley cut their price objective 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. Rosenblatt Securities restated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research report on Thursday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Wednesday, February 18th. Piper Sandler cut their price target on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, Wells Fargo & Company reduced their price objective on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $376.50.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the sale, the director owned 7,470 shares in the company, valued at $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the transaction, the vice president directly owned 94,137 shares in the company, valued at approximately $28,032,115.86. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,185 shares of company stock worth $963,238 over the last quarter. 0.37% of the stock is currently owned by insiders.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $277.87 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 2.67 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $293.95 and a 200 day moving average price of $316.32. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The stock has a market cap of $76.72 billion, a P/E ratio of 68.44, a PEG ratio of 3.26 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.08. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. Cadence Design Systems’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. Sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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.