Man Group plc Makes New $191.53 Million Investment in Cadence Design Systems, Inc. $CDNS

Man Group plc acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 510,302 shares of the software maker’s stock, valued at approximately $191,527,000.

Several other large investors also recently modified their holdings of CDNS. Brighton Jones LLC lifted its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after buying an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at approximately $205,000. NewEdge Advisors LLC raised its position in shares of Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after buying an additional 9,807 shares in the last quarter. Finally, Glenview Trust co bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $226,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. 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 have sold a total of 89,599 shares of company stock valued at $35,710,627 over the last quarter. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CDNS shares. Oppenheimer reiterated a “market perform” rating and set a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley restated an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Stifel Nicolaus lifted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Citigroup lifted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Up 5.1%

NASDAQ:CDNS opened at $331.90 on Wednesday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The company has a market cap of $91.40 billion, a PE ratio of 65.98, a P/E/G ratio of 3.39 and a beta of 1.15. The firm’s 50 day simple moving average is $351.00 and its 200 day simple moving average is $332.31.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company’s revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 EPS. 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 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.