Johnson Financial Group Inc. acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,008 shares of the software maker’s stock, valued at approximately $754,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Cadence Design Systems by 1.1% during 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 during the period. State Street Corp increased its stake in Cadence Design Systems by 1.1% in 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 raised its holdings in shares of Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after acquiring an additional 92,152 shares in the last quarter. Norges Bank purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp raised its position in Cadence Design Systems by 11.9% during the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after acquiring an additional 376,654 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Cadence Design Systems
In other news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. The trade was a 18.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% decrease in their position. 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 have sold a total of 141,486 shares of company stock valued at $54,908,817 over the last 90 days. Insiders own 0.49% of the company’s stock.
Cadence Design Systems Trading Down 0.5%
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, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.
Wall Street Analyst Weigh In
CDNS has been the topic of several recent research reports. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Weiss Ratings raised shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Finally, Bank of America raised their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Thirteen investment 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 an average rating of “Moderate Buy” and an average target price of $405.69.
View Our Latest Report on Cadence Design Systems
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.
Read More
- Five stocks we like better than Cadence Design Systems
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.
