Oppenheimer Asset Management Inc. Increases Stake in Cadence Design Systems, Inc. $CDNS

Oppenheimer Asset Management Inc. lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.0% during the 4th quarter, HoldingsChannel reports. The fund owned 41,366 shares of the software maker’s stock after acquiring an additional 1,591 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cadence Design Systems were worth $12,930,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CDNS. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after acquiring an additional 731,788 shares during the period. Assenagon Asset Management S.A. increased its position in Cadence Design Systems by 120.9% during 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 purchasing an additional 615,440 shares in the last quarter. Scge Management L.P. acquired a new stake in Cadence Design Systems during the 2nd quarter worth approximately $187,663,000. Invesco Ltd. increased its position in Cadence Design Systems by 20.4% during 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 in the last quarter. Finally, Close Asset Management Ltd grew its position in Cadence Design Systems by 577.5% in the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock valued at $199,088,000 after acquiring an additional 483,039 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 21,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the sale, the chief financial officer owned 86,875 shares of the company’s stock, valued at approximately $26,883,468.75. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $280.19, for a total transaction of $280,190.00. Following the sale, the vice president directly owned 128,586 shares of the company’s stock, valued at $36,028,511.34. The trade was a 0.77% 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. Over the last quarter, insiders sold 24,680 shares of company stock valued at $7,579,340. 0.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CDNS. Stifel Nicolaus set a $395.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.59.

Cadence Design Systems Stock Up 3.4%

CDNS stock opened at $340.94 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $376.45. The company has a current ratio of 1.47, a quick ratio of 2.67 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $94.13 billion, a P/E ratio of 79.47, a PEG ratio of 3.91 and a beta of 1.13. The firm has a 50 day simple moving average of $296.48 and a 200-day simple moving average of $309.33.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $1.57 earnings per share. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. 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 predict that Cadence Design Systems, Inc. will post 6.22 earnings per share for the current fiscal year.

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.