Daiichi Life Insurance Co. Ltd. Invests $13.95 Million in Cadence Design Systems, Inc. $CDNS

Daiichi Life Insurance Co. Ltd. bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,166 shares of the software maker’s stock, valued at approximately $13,949,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNS. Vanguard Group Inc. raised its holdings in Cadence Design Systems by 1.1% during the fourth 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 in the last quarter. State Street Corp boosted its holdings in Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $2,378,707,000 after purchasing an additional 92,152 shares in the last quarter. Norges Bank acquired a new position in Cadence Design Systems during the 4th quarter worth approximately $1,352,922,000. Finally, Van ECK Associates Corp increased its position in Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after purchasing an additional 376,654 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDNS. Wells Fargo & Company raised their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Stifel Nicolaus raised their target price on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Scannell sold 7,081 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This trade represents a 2.20% 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. Over the last ninety days, insiders have sold 89,599 shares of company stock worth $35,710,627. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

CDNS stock opened at $319.02 on Friday. The firm has a 50 day moving average of $353.70 and a 200-day moving average of $331.25. The company has a market cap of $87.85 billion, a price-to-earnings ratio of 63.42, a PEG ratio of 3.42 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.Cadence Design Systems’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Cadence Design Systems Company 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.