BI Asset Management Fondsmaeglerselskab A S Sells 10,611 Shares of Cadence Design Systems, Inc. $CDNS

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 53.0% during the first quarter, Holdings Channel.com reports. The firm owned 9,396 shares of the software maker’s stock after selling 10,611 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cadence Design Systems were worth $2,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. J. Stern & Co. LLP raised its holdings in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after buying an additional 2,924,470 shares during the last quarter. Wellington Management Group LLP raised its holdings in Cadence Design Systems by 218.6% during the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after buying an additional 1,751,927 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Cadence Design Systems by 120.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock valued at $351,470,000 after buying an additional 615,440 shares during the period. Finally, Scge Management L.P. purchased a new stake in Cadence Design Systems during the 2nd quarter valued at $187,663,000. Institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the 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 sale, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of Cadence Design Systems stock in a transaction on Thursday, April 16th. The stock was 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 directly owned 86,875 shares of the company’s stock, valued at approximately $26,883,468.75. The trade was a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,557 shares of company stock worth $67,205,642 in the last three months. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 2.6%

NASDAQ:CDNS opened at $379.06 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The firm has a market cap of $104.55 billion, a P/E ratio of 88.36, a P/E/G ratio of 4.60 and a beta of 1.15. 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 50-day simple moving average of $359.57 and a two-hundred day simple moving average of $322.52.

Cadence Design Systems (NASDAQ:CDNS) last issued its 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. 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 for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. 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. Analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CDNS shares. Robert W. Baird raised their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Stifel Nicolaus upped their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. Citigroup lifted their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler boosted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $386.59.

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.