Cadence Design Systems, Inc. $CDNS Shares Sold by Aviva PLC

Aviva PLC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 471,132 shares of the software maker’s stock after selling 14,258 shares during the quarter. Aviva PLC’s holdings in Cadence Design Systems were worth $147,266,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Cadence Design Systems by 1.1% in the 4th 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 during the period. State Street Corp raised its holdings in Cadence Design Systems by 1.2% in the 3rd 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 during the period. Geode Capital Management LLC raised its holdings in 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 worth $2,378,707,000 after purchasing an additional 92,152 shares during the period. Norges Bank acquired a new position in Cadence Design Systems in the 4th quarter worth about $1,352,922,000. Finally, Invesco Ltd. raised its holdings in Cadence Design Systems by 20.4% in the 3rd 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 during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $337.49, for a total value of $337,490.00. Following the completion of the sale, the vice president owned 127,586 shares of the company’s stock, valued at approximately $43,058,999.14. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 directly owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This represents a 8.98% 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 176,046 shares of company stock worth $65,830,801 in the last three months. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $383.74 on Friday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. 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 stock has a market cap of $105.84 billion, a PE ratio of 89.45, a P/E/G ratio of 4.56 and a beta of 1.15. The stock has a 50 day moving average price of $342.23 and a 200 day moving average price of $318.27.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $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. Equities research analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CDNS shares. Robert W. Baird increased their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Wells Fargo & Company increased their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. KeyCorp increased their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Morgan Stanley reduced their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.