Pacer Advisors Inc. Has $33.69 Million Position in Cadence Design Systems, Inc. $CDNS

Pacer Advisors Inc. cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 40.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,783 shares of the software maker’s stock after selling 74,565 shares during the period. Pacer Advisors Inc.’s holdings in Cadence Design Systems were worth $33,691,000 at the end of the most recent quarter.

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

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $387.39 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The firm has a 50 day moving average price of $355.14 and a two-hundred day moving average price of $321.63. The stock has a market cap of $106.85 billion, a P/E ratio of 90.30, a price-to-earnings-growth ratio of 4.59 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (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 the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm 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. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Activity

In other news, VP Paul Scannell sold 10,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was 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 trade represents a 23.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of Cadence Design Systems stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the transaction, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. This represents 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. In the last three months, insiders sold 179,557 shares of company stock worth $67,205,642. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CDNS. Wells Fargo & Company lifted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Robert W. Baird upped their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Stifel Nicolaus raised their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. KeyCorp boosted their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $386.59.

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.