Phoenix Financial Ltd. Trims Stock Holdings in Cadence Design Systems, Inc. $CDNS

Phoenix Financial Ltd. reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 35.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,441 shares of the software maker’s stock after selling 3,537 shares during the period. Phoenix Financial Ltd.’s holdings in Cadence Design Systems were worth $2,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Y.D. More Investments Ltd purchased a new stake in Cadence Design Systems in the 3rd quarter valued at about $26,000. Caitlin John LLC purchased a new stake in Cadence Design Systems in the 3rd quarter valued at about $29,000. Lodestone Wealth Management LLC purchased a new stake in Cadence Design Systems in the 4th quarter valued at about $30,000. Imprint Wealth LLC acquired a new position in Cadence Design Systems in the 3rd quarter valued at about $31,000. Finally, Strategic Wealth Investment Group LLC acquired a new position in Cadence Design Systems in the 2nd quarter valued at about $32,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $347.24 on Friday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $376.45. The company has a market cap of $95.78 billion, a PE ratio of 80.94, a P/E/G ratio of 4.18 and a beta of 1.13. 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 business has a 50-day simple moving average of $307.04 and a 200-day simple moving average of $310.77.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company 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. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDNS. Robert W. Baird lifted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Citigroup lifted their target price on 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 lifted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $380.59.

Insider Buying and Selling

In other news, CFO John M. Wall sold 21,500 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the transaction, the chief financial officer directly owned 86,875 shares of the company’s stock, valued at approximately $26,883,468.75. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president directly owned 33,946 shares of the company’s stock, valued at $11,507,694. This trade represents a 23.62% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 40,180 shares of company stock valued at $12,924,790. 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.