Lazard Freres Gestion S.A.S. Has $2.44 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Lazard Freres Gestion S.A.S. reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the software maker’s stock after selling 1,900 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Cadence Design Systems were worth $2,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased 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 purchasing an additional 307,753 shares in the last quarter. State Street Corp increased its holdings in Cadence Design Systems by 1.2% in the third quarter. State Street Corp now owns 12,468,162 shares of the software maker’s stock worth $4,379,567,000 after purchasing an additional 149,577 shares in the last quarter. Invesco Ltd. increased its holdings in Cadence Design Systems by 20.4% in the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after purchasing an additional 499,009 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Cadence Design Systems by 5.1% in the third quarter. Principal Financial Group Inc. now owns 2,301,781 shares of the software maker’s stock worth $808,530,000 after purchasing an additional 110,794 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Cadence Design Systems by 0.8% in the third quarter. Schroder Investment Management Group now owns 2,073,935 shares of the software maker’s stock worth $722,808,000 after purchasing an additional 15,625 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the completion of the sale, the chief financial officer owned 81,875 shares in the company, valued at approximately $28,550,631.25. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 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 of the company’s stock, valued at $2,203,874.10. This trade represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,180 shares of company stock worth $12,924,790. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of research analyst reports. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a report on Wednesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Robert W. Baird lifted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Citigroup lifted their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, 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. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $380.59.

Cadence Design Systems Trading Down 2.3%

NASDAQ CDNS opened at $338.12 on Wednesday. The company has a market cap of $93.26 billion, a price-to-earnings ratio of 78.82, a P/E/G ratio of 4.10 and a beta of 1.13. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $376.45. The business has a 50 day moving average price of $308.79 and a 200-day moving average price of $310.50. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.57 earnings per share. 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, equities analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

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.