Atlantic Union Bankshares Corp Boosts Holdings in Cadence Design Systems, Inc. $CDNS

Atlantic Union Bankshares Corp lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 44.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,561 shares of the software maker’s stock after purchasing an additional 1,718 shares during the period. Atlantic Union Bankshares Corp’s holdings in Cadence Design Systems were worth $1,738,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CDNS. Vanguard Group Inc. lifted its stake 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 valued at $8,511,888,000 after purchasing an additional 307,753 shares during the last quarter. State Street Corp lifted its stake in Cadence Design Systems by 1.2% in the third quarter. State Street Corp now owns 12,468,162 shares of the software maker’s stock valued at $4,379,567,000 after purchasing an additional 149,577 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Cadence Design Systems by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares during the last quarter. Invesco Ltd. lifted its stake in Cadence Design Systems by 20.4% in the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock valued at $1,033,669,000 after purchasing an additional 499,009 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Cadence Design Systems by 5.1% in the third quarter. Principal Financial Group Inc. now owns 2,301,781 shares of the software maker’s stock valued at $808,530,000 after purchasing an additional 110,794 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research analyst reports. Citigroup upped their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Piper Sandler boosted their price target 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. Robert W. Baird boosted their price target 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. Finally, Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $380.59.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total transaction of $53,105.40. Following the completion of the transaction, the director owned 7,470 shares of the company’s stock, valued at approximately $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total transaction of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares of the company’s stock, valued at approximately $28,032,115.86. This represents a 1.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,180 shares of company stock worth $12,924,790 in the last three months. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $352.84 on Friday. The company’s 50 day moving average is $306.20 and its 200-day moving average is $310.52. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $376.45. 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 firm has a market cap of $97.32 billion, a P/E ratio of 82.25, a price-to-earnings-growth ratio of 4.20 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last posted 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. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The company’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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

About Cadence Design Systems

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.