Cadence Design Systems, Inc. $CDNS Stock Bought by Seilern Investment Management Ltd

Seilern Investment Management Ltd lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,530 shares of the software maker’s stock after buying an additional 20,209 shares during the quarter. Cadence Design Systems makes up 5.6% of Seilern Investment Management Ltd’s investment portfolio, making the stock its 9th largest position. Seilern Investment Management Ltd’s holdings in Cadence Design Systems were worth $44,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sax Wealth Advisors LLC purchased a new position in shares of Cadence Design Systems during the third quarter valued at approximately $9,518,000. NorthCrest Asset Manangement LLC boosted its position in Cadence Design Systems by 4,881.8% during the third quarter. NorthCrest Asset Manangement LLC now owns 32,332 shares of the software maker’s stock worth $10,676,000 after acquiring an additional 31,683 shares during the last quarter. Perpetual Ltd grew its stake in Cadence Design Systems by 14.5% in the 3rd quarter. Perpetual Ltd now owns 4,218 shares of the software maker’s stock worth $1,393,000 after acquiring an additional 534 shares during the period. JGP Wealth Management LLC grew its stake in Cadence Design Systems by 9.9% in the 3rd quarter. JGP Wealth Management LLC now owns 3,661 shares of the software maker’s stock worth $1,209,000 after acquiring an additional 329 shares during the period. Finally, Armstrong Advisory Group Inc. raised its holdings in Cadence Design Systems by 3,662.5% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 301 shares of the software maker’s stock valued at $99,000 after acquiring an additional 293 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the transaction, the director owned 7,824 shares in the company, valued at approximately $2,233,830.24. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total transaction of $94,920.00. Following the transaction, the vice president directly owned 31,720 shares in the company, valued at approximately $10,753,080. This trade represents a 0.88% 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. Insiders sold a total of 6,960 shares of company stock worth $2,185,879 in the last quarter. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CDNS. The Goldman Sachs Group increased their price target on Cadence Design Systems from $410.00 to $470.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Robert W. Baird lifted their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price target (up from $370.00) on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Piper Sandler lifted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Bank of America raised their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $404.14.

Cadence Design Systems Trading Down 3.3%

Shares of CDNS traded down $11.59 during trading hours on Tuesday, hitting $336.83. The stock had a trading volume of 787,814 shares, compared to its average volume of 2,436,537. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The firm has a market cap of $92.76 billion, a P/E ratio of 66.95, a P/E/G ratio of 3.78 and a beta of 1.13. The company’s fifty day simple moving average is $319.81 and its 200 day simple moving average is $337.89. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.41 EPS for the current fiscal year.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.