E Fund Management Co. Ltd. bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,084 shares of the software maker’s stock, valued at approximately $6,412,000.
Several other institutional investors have also made changes to their positions in CDNS. Vanguard Group Inc. lifted 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 worth $8,511,888,000 after buying an additional 307,753 shares in the last quarter. State Street Corp boosted its stake in shares of Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after buying an additional 135,206 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after acquiring an additional 92,152 shares in the last quarter. Norges Bank acquired a new position in shares of Cadence Design Systems in the fourth quarter worth $1,352,922,000. Finally, Van ECK Associates Corp increased its stake in shares of Cadence Design Systems by 11.9% in the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after acquiring an additional 376,654 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on CDNS shares. Bank of America raised their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Oppenheimer restated a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $405.69.
Insider Buying and Selling
In other news, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the sale, the chief executive officer owned 253,519 shares in the company, valued at $105,210,385. The trade was a 8.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the sale, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This trade represents a 2.20% 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. In the last three months, insiders sold 141,486 shares of company stock worth $54,908,817. 0.49% of the stock is currently owned by company insiders.
Cadence Design Systems Stock Down 0.5%
CDNS stock opened at $314.98 on Thursday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market cap of $86.74 billion, a PE ratio of 62.62, a price-to-earnings-growth ratio of 3.40 and a beta of 1.15. The business’s 50-day simple moving average is $356.42 and its 200 day simple moving average is $331.22. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. 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.
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.
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