Impax Asset Management Trims Cadence Design Systems Stake

Impax Asset Management Group plc has slightly reduced its holdings in Cadence Design Systems (NASDAQ:CDNS) by 3.8%. The asset manager now holds 446,342 shares in the electronic design automation company, valued at approximately $156.78 million. This adjustment comes as institutional investors collectively maintain a significant presence, owning about 84.85% of Cadence Design Systems' stock. While Impax's move represents a minor portfolio adjustment, company insiders have been net sellers of CDNS shares in recent months. Despite these movements, financial analysts largely maintain a "Moderate Buy" rating for Cadence Design Systems, with a consensus price target set at $379.59, indicating continued confidence in the company's prospects.