Saranac Partners Ltd Buys 3,103 Shares of Cadence Design Systems, Inc. $CDNS

Saranac Partners Ltd grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,262 shares of the software maker’s stock after acquiring an additional 3,103 shares during the period. Cadence Design Systems makes up approximately 1.9% of Saranac Partners Ltd’s portfolio, making the stock its 27th biggest position. Saranac Partners Ltd’s holdings in Cadence Design Systems were worth $4,783,000 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 the company. Vanguard Group Inc. increased its position in Cadence Design Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after acquiring an additional 307,753 shares during the period. State Street Corp raised its position in Cadence Design Systems by 1.2% during the 3rd quarter. State Street Corp now owns 12,468,162 shares of the software maker’s stock worth $4,379,567,000 after purchasing an additional 149,577 shares during the last quarter. Invesco Ltd. lifted its holdings in Cadence Design Systems by 20.4% during the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after buying an additional 499,009 shares during the period. Principal Financial Group Inc. boosted its holdings 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 acquiring an additional 110,794 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Cadence Design Systems by 0.8% during the 3rd quarter. Schroder Investment Management Group now owns 2,073,935 shares of the software maker’s stock worth $722,808,000 after purchasing an additional 15,625 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Down 2.3%

CDNS opened at $338.12 on Wednesday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $376.45. The firm has a market capitalization of $93.26 billion, a PE ratio of 78.82, a P/E/G ratio of 4.10 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The company’s 50-day moving average is $308.79 and its 200 day moving average is $310.50.

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, beating analysts’ consensus estimates of $1.91 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous 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 predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems 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 transaction, the director owned 7,470 shares of the company’s stock, valued at $2,203,874.10. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Scannell sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president owned 33,946 shares in the company, valued at $11,507,694. The trade was a 23.62% decrease in their position. 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 a total of 40,180 shares of company stock valued at $12,924,790 in the last 90 days. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDNS. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $380.59.

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.