Impax Asset Management Group plc Grows Stake in Cadence Design Systems, Inc. $CDNS

Impax Asset Management Group plc increased its stake in Cadence Design Systems (NASDAQ: CDNS) by 20.7% in Q4, holding 538,545 shares valued at $168.34 million. Cadence is strengthening its AI focus through partnerships with TSMC, NVIDIA, and Google, which is expected to boost its relevance to AI chip customers and drive long-term revenue growth. While the company exceeded Q4 earnings and revenue estimates and has a “Moderate Buy” consensus rating with a $377.06 price target, it trades at a high P/E ratio of ~82 and has seen recent insider selling.

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