Van ECK Associates Corp Raises Position in Cadence Design Systems, Inc. $CDNS

Van ECK Associates Corp increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,534,180 shares of the software maker’s stock after purchasing an additional 376,654 shares during the period. Cadence Design Systems makes up 0.9% of Van ECK Associates Corp’s investment portfolio, making the stock its 26th largest holding. Van ECK Associates Corp’s holdings in Cadence Design Systems were worth $1,104,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDNS. Norges Bank purchased a new stake in Cadence Design Systems during the fourth quarter valued at approximately $1,352,922,000. Assenagon Asset Management S.A. boosted its position in shares of Cadence Design Systems by 120.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after acquiring an additional 615,440 shares during the last quarter. Scge Management L.P. bought a new position in shares of Cadence Design Systems during the second quarter worth $187,663,000. Invesco Ltd. boosted its position in shares of Cadence Design Systems by 20.4% during the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after acquiring an additional 499,009 shares during the last quarter. Finally, Close Asset Management Ltd boosted its position in shares of Cadence Design Systems by 577.5% during the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after acquiring an additional 483,039 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CDNS. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 24th. 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, April 28th. Morgan Stanley lowered their price objective on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Fourteen investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $386.59.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 176,226 shares of company stock worth $65,900,542 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Up 0.3%

CDNS stock opened at $384.96 on Friday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $106.18 billion, a PE ratio of 89.73, a price-to-earnings-growth ratio of 4.54 and a beta of 1.15. The firm has a 50 day moving average of $344.32 and a 200 day moving average of $318.73.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results 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 during 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. 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 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.