Concentric Capital Strategies LP Invests $10.77 Million in Cadence Design Systems, Inc. $CDNS

Concentric Capital Strategies LP purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the fourth quarter, HoldingsChannel reports. The firm purchased 34,467 shares of the software maker’s stock, valued at approximately $10,774,000.

Other hedge funds have also added to or reduced their stakes in the company. Spirepoint Private Client LLC raised its position in shares of Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock valued at $226,000 after purchasing an additional 32 shares during the period. West Family Investments Inc. boosted its holdings in shares of Cadence Design Systems by 2.2% during the 3rd quarter. West Family Investments Inc. now owns 1,559 shares of the software maker’s stock worth $548,000 after buying an additional 33 shares during the period. Townsquare Capital LLC grew its stake in Cadence Design Systems by 3.6% in the 4th quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after buying an additional 34 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Cadence Design Systems by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker’s stock valued at $379,000 after acquiring an additional 35 shares during the period. Finally, Global Assets Advisory LLC raised its holdings in Cadence Design Systems by 2.1% in the 4th quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker’s stock valued at $540,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president directly owned 126,586 shares of the company’s stock, valued at $49,495,126. This represents a 1.56% 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. Insiders sold a total of 179,557 shares of company stock valued at $67,205,642 over the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $389.60 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market cap of $107.46 billion, a PE ratio of 90.82, a P/E/G ratio of 4.59 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business’s 50-day moving average price is $351.03 and its two-hundred day moving average price is $320.63.

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, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s quarterly revenue 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, analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup lifted 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. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Piper Sandler lifted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. KeyCorp boosted their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.59.

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.