Van ECK Associates Corp Purchases 376,654 Shares of Cadence Design Systems, Inc. $CDNS

Van ECK Associates Corp boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,534,180 shares of the software maker’s stock after purchasing an additional 376,654 shares during the period. Cadence Design Systems comprises 0.9% of Van ECK Associates Corp’s holdings, making the stock its 26th largest position. Van ECK Associates Corp owned approximately 1.30% of Cadence Design Systems worth $1,104,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of 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 valued at $8,511,888,000 after acquiring an additional 307,753 shares in the last quarter. State Street Corp lifted its stake 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 valued at $4,379,567,000 after purchasing an additional 149,577 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $2,378,707,000 after purchasing an additional 92,152 shares during the last quarter. Norges Bank acquired a new stake in Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. Finally, Invesco Ltd. lifted its stake 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 valued at $1,033,669,000 after purchasing an additional 499,009 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CDNS. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. Morgan Stanley cut their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Citigroup raised their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $386.59.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $384.96 on Friday. The stock has a market cap of $106.18 billion, a price-to-earnings ratio of 89.73, a P/E/G ratio of 4.54 and a beta of 1.15. 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, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company’s fifty day moving average is $344.32 and its 200 day moving average is $318.73.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president directly owned 33,946 shares of the company’s stock, valued at $11,507,694. This trade represents a 23.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the transaction, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. The trade was a 14.60% decrease in their ownership of the stock. 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. Insiders sold 176,226 shares of company stock valued at $65,900,542 over the last quarter. 0.49% of the stock is currently owned by insiders.

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.