Healthcare of Ontario Pension Plan Trust Fund Sells 35,794 Shares of Cadence Design Systems, Inc. $CDNS

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 27.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 94,119 shares of the software maker’s stock after selling 35,794 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cadence Design Systems were worth $29,420,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after acquiring an additional 307,753 shares in the last quarter. State Street Corp lifted its stake in shares of Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after buying an additional 135,206 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after buying an additional 92,152 shares during the period. Norges Bank bought a new stake in shares of Cadence Design Systems during the 4th quarter worth $1,352,922,000. Finally, Van ECK Associates Corp boosted its holdings in shares of 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 buying an additional 376,654 shares during the period. 84.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CDNS. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. KeyCorp upped their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. Finally, Stifel Nicolaus upped their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $386.59.

Insider Activity

In related news, VP Paul Scannell sold 10,500 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the transaction, the vice president directly owned 33,946 shares in the company, valued at $11,507,694. This represents a 23.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 company’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 transaction, the chief executive officer 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 177,557 shares of company stock worth $66,423,642. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $394.50 on Tuesday. The stock has a market cap of $108.81 billion, a P/E ratio of 91.96, a PEG ratio of 4.56 and a beta of 1.15. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a fifty day moving average price of $346.64 and a 200 day moving average price of $319.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 27th. The software maker reported $1.96 EPS 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 analysts’ expectations 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 period in the prior year, the company 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. Analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current 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.