Chevy Chase Trust Holdings LLC Buys 3,123 Shares of Cadence Design Systems, Inc. $CDNS

Chevy Chase Trust Holdings LLC boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 499,139 shares of the software maker’s stock after buying an additional 3,123 shares during the quarter. Cadence Design Systems makes up 0.5% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 29th largest holding. Chevy Chase Trust Holdings LLC owned 0.18% of Cadence Design Systems worth $175,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CDNS. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth $26,000. Caitlin John LLC bought a new position in shares of Cadence Design Systems during the third quarter valued at about $29,000. Imprint Wealth LLC bought a new position in shares of Cadence Design Systems during the third quarter valued at about $31,000. Strategic Wealth Investment Group LLC purchased a new position in Cadence Design Systems during the second quarter worth about $32,000. Finally, Promus Capital LLC purchased a new position in Cadence Design Systems during the second quarter worth about $33,000. 84.85% of the stock is currently owned by institutional investors.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 27,805 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the transaction, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the sale, the vice president directly owned 94,137 shares of the company’s stock, valued at $28,032,115.86. This represents a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 30,810 shares of company stock worth $9,767,972. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CDNS. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Piper Sandler cut their target price on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research report on Monday, December 1st. Finally, Citigroup started coverage on Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price target on the stock. Fifteen 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 an average price target of $376.50.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $287.03 on Friday. The firm has a market cap of $78.26 billion, a price-to-earnings ratio of 70.70, a P/E/G ratio of 3.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm’s 50-day simple moving average is $301.94 and its two-hundred day simple moving average is $322.12.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $1.88 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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.