11,383 Shares in Cadence Design Systems, Inc. $CDNS Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,383 shares of the software maker's stock, valued at approximately $4,272,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 valued at $8,511,888,000 after purchasing an additional 307,753 shares during the last quarter. State Street Corp lifted its position 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 worth $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $2,378,707,000 after purchasing an additional 92,152 shares during the last quarter. Norges Bank acquired a new position in shares of Cadence Design Systems during the fourth quarter worth $1,352,922,000. Finally, Van ECK Associates Corp grew its stake in shares of 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 worth $1,104,714,000 after purchasing an additional 376,654 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $319.02 on Friday. The company's 50 day simple moving average is $353.70 and its 200-day simple moving average is $331.25. The firm has a market cap of $87.85 billion, a PE ratio of 63.42, a price-to-earnings-growth ratio of 3.42 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. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. Cadence Design Systems'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. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CDNS. 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 research note on Tuesday, July 28th. Bank of America increased their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Benchmark reissued a "buy" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $405.69.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,822 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the sale, the chief executive officer owned 278,524 shares of the company's stock, valued at approximately $110,016,980. The trade was a 15.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% 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 89,599 shares of company stock valued at $35,710,627 over the last ninety days. 0.49% of the stock is currently owned by company 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.

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