AEGON ASSET MANAGEMENT UK Plc Sells 117,477 Shares of Cadence Design Systems, Inc. $CDNS

AEGON ASSET MANAGEMENT UK Plc reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 74.8% during the first quarter, HoldingsChannel reports. The firm owned 39,560 shares of the software maker’s stock after selling 117,477 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cadence Design Systems were worth $10,988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Sun Financial Inc bought a new stake in shares of Cadence Design Systems during the fourth quarter worth about $1,225,000. MUFG Securities EMEA plc increased its stake in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after buying an additional 5,943 shares during the period. DDD Partners LLC raised its holdings in Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after buying an additional 9,024 shares during the last quarter. Leonteq Securities AG bought a new position in Cadence Design Systems in the 4th quarter valued at approximately $1,105,000. Finally, Allianz SE acquired a new stake in Cadence Design Systems during the 3rd quarter worth approximately $1,265,000. 84.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Stifel Nicolaus raised their price target on shares of 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 lifted their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Citigroup increased their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $386.59.

Insider Buying and Selling at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. The trade was 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. Insiders have sold 179,557 shares of company stock valued at $67,205,642 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $387.39 on Friday. The stock has a market capitalization of $106.85 billion, a PE ratio of 90.30, a PEG ratio of 4.59 and a beta of 1.15. The business’s 50 day simple moving average is $355.14 and its 200 day simple moving average is $321.63. 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, Inc. has a one year low of $262.75 and a one year high of $416.69.

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, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 EPS. 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, research analysts forecast 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.