Bank of Montreal Can Grows Stock Position in Cadence Design Systems, Inc. $CDNS

Bank of Montreal Can grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 306,903 shares of the software maker’s stock after buying an additional 9,924 shares during the quarter. Bank of Montreal Can owned 0.11% of Cadence Design Systems worth $107,803,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Cadence Design Systems in the second quarter valued at approximately $1,190,618,000. Massachusetts Financial Services Co. MA grew its stake in shares of Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after purchasing an additional 731,788 shares during the period. Voya Investment Management LLC increased its holdings in shares of Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after purchasing an additional 622,934 shares in the last quarter. Scge Management L.P. purchased a new position in shares of Cadence Design Systems during the 2nd quarter valued at approximately $187,663,000. Finally, Close Asset Management Ltd lifted its stake in shares of Cadence Design Systems by 577.5% in the 3rd quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock valued at $199,088,000 after purchasing an additional 483,039 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated 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 sale, the vice president owned 94,137 shares in the company, valued at approximately $28,032,115.86. This represents a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,810 shares of company stock worth $9,767,972 over the last 90 days. 1.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CDNS shares. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a report on Monday, December 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a report on Wednesday, February 18th. Citigroup began coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective for the company. Morgan Stanley dropped their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Thursday, February 26th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $376.50.

Cadence Design Systems Stock Up 0.3%

NASDAQ CDNS opened at $294.16 on Thursday. The business has a fifty day moving average price of $302.86 and a 200 day moving average price of $322.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. The company has a market cap of $80.20 billion, a P/E ratio of 72.45, a P/E/G ratio of 3.52 and a beta of 1.00. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. 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. Research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS 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.