Canal Capital Management LLC Sells 10,631 Shares of Cadence Design Systems, Inc. $CDNS

Canal Capital Management LLC trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 87.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,528 shares of the software maker’s stock after selling 10,631 shares during the quarter. Canal Capital Management LLC’s holdings in Cadence Design Systems were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Cadence Design Systems in the second quarter worth about $1,190,618,000. Massachusetts Financial Services Co. MA increased its position in Cadence Design Systems by 16.0% during the 3rd 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 period. Voya Investment Management LLC increased its position in Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after purchasing an additional 622,934 shares during the period. Scge Management L.P. bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $187,663,000. Finally, Invesco Ltd. lifted its position in shares of Cadence Design Systems by 20.4% in the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after purchasing an additional 499,009 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS opened at $287.40 on Friday. The company has a market cap of $78.36 billion, a P/E ratio of 70.79, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The company has a quick ratio of 2.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $300.11 and its 200-day moving average price is $320.66. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business earned $1.88 EPS. Cadence Design Systems’s revenue for the quarter was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CDNS. Morgan Stanley cut their price objective on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Rosenblatt Securities restated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a report on Thursday, February 26th. Wells Fargo & Company dropped their target price on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Finally, Piper Sandler cut their price target on shares of Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $376.50.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the transaction, the vice president owned 94,137 shares in the company, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the sale, the director directly owned 7,470 shares of the company’s stock, valued at approximately $2,203,874.10. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,185 shares of company stock valued at $963,238 over the last quarter. Insiders own 1.99% of the company’s stock.

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.