Equitable Holdings Inc. purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 1,774 shares of the software maker’s stock, valued at approximately $666,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Whipplewood Advisors LLC increased its stake in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Cadence Design Systems during the fourth quarter valued at $28,000. Swiss RE Ltd. bought a new stake in Cadence Design Systems during the fourth quarter valued at about $29,000. Finally, Avalon Trust Co purchased a new stake in Cadence Design Systems in the second quarter worth about $30,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Citigroup raised their price objective 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. Stifel Nicolaus boosted their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Morgan Stanley restated an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Finally, Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $405.69.
Cadence Design Systems Price Performance
Shares of Cadence Design Systems stock opened at $340.39 on Friday. The company has a market capitalization of $93.74 billion, a price-to-earnings ratio of 67.67, a PEG ratio of 3.65 and a beta of 1.15. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $348.17 and its 200-day simple moving average is $333.27. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last released its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. 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. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.
Insider Activity
In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,250 shares of Cadence Design Systems stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total value of $401,100.00. Following the sale, the director directly owned 40,794 shares in the company, valued at approximately $13,089,978.72. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the transaction, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This trade represents a 6.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 91,129 shares of company stock valued at $36,206,647. Company insiders own 0.49% of the company’s stock.
About Cadence Design Systems
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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