iA Global Asset Management Inc. Sells 32,351 Shares of Cadence Design Systems, Inc. $CDNS

iA Global Asset Management Inc. lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 48.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 34,917 shares of the software maker’s stock after selling 32,351 shares during the period. iA Global Asset Management Inc.’s holdings in Cadence Design Systems were worth $9,702,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Brown Lisle Cummings Inc. lifted its position in Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Cadence Design Systems in the 4th quarter valued at about $28,000. Swiss RE Ltd. bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $29,000. Lodestone Wealth Management LLC bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Cadence Design Systems during the third quarter worth approximately $31,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Anirudh Devgan sold 51,887 shares of Cadence Design Systems stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the sale, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at $112,304,250. The trade was a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the sale, the chief financial officer owned 86,875 shares of the company’s stock, valued at $26,883,468.75. This represents a 19.84% 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 sold 178,557 shares of company stock worth $66,925,452 over the last three months. Insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CDNS shares. Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, May 27th. 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 report on Tuesday, April 28th. Citigroup increased their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $386.59.

Cadence Design Systems Trading Up 0.6%

Shares of NASDAQ CDNS opened at $377.73 on Thursday. The company’s 50 day simple moving average is $368.02 and its 200 day simple moving average is $324.09. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm has a market capitalization of $104.19 billion, a P/E ratio of 88.05, a P/E/G ratio of 4.44 and a beta of 1.15. 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, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. 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. On average, analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS 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.