Mitsubishi UFJ Asset Management Co. Ltd. Invests $292.89 Million in Cadence Design Systems, Inc. $CDNS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, HoldingsChannel reports. The firm bought 780,375 shares of the software maker’s stock, valued at approximately $292,890,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after acquiring an additional 307,753 shares in the last quarter. State Street Corp raised its position in shares of Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cadence Design Systems by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after purchasing an additional 92,152 shares during the last quarter. Norges Bank acquired a new stake in Cadence Design Systems in the 4th quarter worth approximately $1,352,922,000. Finally, Van ECK Associates Corp boosted its stake in Cadence Design Systems by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after purchasing an additional 376,654 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

CDNS opened at $323.47 on Tuesday. The firm has a market capitalization of $89.08 billion, a PE ratio of 64.31, a P/E/G ratio of 3.49 and a beta of 1.15. The firm has a 50 day moving average of $359.31 and a two-hundred day moving average of $331.16. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDNS. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $405.69.

Insider Activity

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 stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the transaction, the chief executive officer owned 253,519 shares of the company’s stock, valued at $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 139,486 shares of company stock valued at $54,262,177 in the last three months. Corporate insiders own 0.49% of the company’s stock.

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.