100,168 Shares in Cadence Design Systems, Inc. $CDNS Purchased by ABN AMRO Bank N.V.

ABN AMRO Bank N.V. purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100,168 shares of the software maker's stock, valued at approximately $37,374,000.

Several other large investors have also recently added to or reduced their stakes in CDNS. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Cadence Design Systems by 3.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock valued at $287,000 after buying an additional 31 shares during the period. Westfuller Advisors LLC increased its holdings in shares of Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock worth $113,000 after buying an additional 31 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Cadence Design Systems by 32.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker's stock worth $37,000 after buying an additional 32 shares in the last quarter. KCM Investment Advisors LLC raised its stake in shares of Cadence Design Systems by 0.4% in the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker's stock valued at $2,227,000 after acquiring an additional 32 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of Cadence Design Systems by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker's stock valued at $486,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CDNS shares. Robert W. Baird raised their price target on Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Citigroup increased their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Finally, Bank of America lifted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $405.69.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $324.82 on Friday. The business's 50-day simple moving average is $360.72 and its 200 day simple moving average is $331.06. 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 has a market cap of $89.45 billion, a price-to-earnings ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced 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 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 company's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business posted $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. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company's stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the transaction, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,557 shares of company stock valued at $54,631,737 over the last three months. 0.49% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source