GSA Capital Partners LLP bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,761 shares of the software maker’s stock, valued at approximately $661,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings 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 shares of Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. bought a new position in Cadence Design Systems during the 2nd quarter worth $205,000. NewEdge Advisors LLC increased its position in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at approximately $226,000. 84.85% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on CDNS. Morgan Stanley reissued an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Robert W. Baird increased their price target on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $405.69.
Insider Buying and Selling at Cadence Design Systems
In related news, 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 transaction of $69,741.00. Following the sale, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the sale, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. The trade was a 1.58% 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 sold a total of 141,486 shares of company stock valued at $54,908,817 in the last ninety days. 0.49% of the stock is owned by corporate insiders.
Cadence Design Systems Stock Performance
Shares of CDNS opened at $314.98 on Thursday. The firm has a market capitalization of $86.74 billion, a P/E ratio of 62.62, a P/E/G ratio of 3.40 and a beta of 1.15. The stock has a 50 day moving average price of $356.42 and a two-hundred day moving average price of $331.22. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the business earned $1.65 EPS. The business’s 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. Equities analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.
Cadence Design Systems 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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