Tobam Purchases 2,876 Shares of Cadence Design Systems, Inc. $CDNS

Tobam increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 879.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,203 shares of the software maker’s stock after purchasing an additional 2,876 shares during the quarter. Tobam’s holdings in Cadence Design Systems were worth $1,001,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDNS. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at approximately $26,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $28,000. Caitlin John LLC acquired a new stake in shares of Cadence Design Systems during the 3rd quarter worth approximately $29,000. Swiss RE Ltd. bought a new position in Cadence Design Systems in the fourth quarter valued at approximately $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in Cadence Design Systems during the fourth quarter valued at approximately $30,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDNS. Stifel Nicolaus upped their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Citigroup upped their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.59.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $387.39 on Friday. The firm’s fifty day moving average price is $355.14 and its two-hundred day moving average price is $321.63. The stock has a market cap of $106.85 billion, a PE ratio of 90.30, a PEG ratio of 4.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $1.57 EPS. Cadence Design Systems’s 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 analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction dated 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 represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of the company’s stock in a transaction 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 directly owned 86,875 shares in the company, valued at approximately $26,883,468.75. This represents a 19.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 179,557 shares of company stock valued at $67,205,642. 0.49% of the stock is currently owned by corporate insiders.

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.