Worthington Financial Partners LLC Takes $1.19 Million Position in Cadence Design Systems, Inc. $CDNS

Worthington Financial Partners LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,816 shares of the software maker’s stock, valued at approximately $1,193,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Cadence Design Systems in the fourth quarter valued at $1,352,922,000. J. Stern & Co. LLP grew its holdings in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after acquiring an additional 2,924,470 shares during the period. Wellington Management Group LLP grew its holdings in Cadence Design Systems by 218.6% during the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after acquiring an additional 1,751,927 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Cadence Design Systems by 120.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after acquiring an additional 615,440 shares in the last quarter. Finally, Scge Management L.P. bought a new position in shares of Cadence Design Systems in the 2nd quarter worth about $187,663,000. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the sale, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the business’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 sale, the vice president owned 33,946 shares of the company’s stock, valued at approximately $11,507,694. This represents a 23.62% 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 179,557 shares of company stock worth $67,205,642 in the last quarter. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS opened at $387.39 on Friday. The company has a fifty day moving average price of $355.14 and a two-hundred day moving average price of $321.63. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a market cap of $106.85 billion, a P/E ratio of 90.30, a price-to-earnings-growth ratio of 4.59 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. 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. Analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird upped 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. 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. KeyCorp boosted their price target on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus increased their price target on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems 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.