166,824 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors acquired 166,824 shares of Cadence Design Systems worth approximately $62.6 million, while institutional investors collectively own 84.85% of the company.
• Cadence reported quarterly earnings of $2.11 per share, beating estimates of $2.05, as revenue increased 24.2% year over year to $1.58 billion. The company issued fiscal 2026 EPS guidance of $8.05 to $8.15.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and three Holds and an average price target of $405.69, above the stock’s recent price of $315.92.

Manning & Napier Advisors LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 166,824 shares of the software maker's stock, valued at approximately $62,612,000. Manning & Napier Advisors LLC owned 0.06% of Cadence Design Systems as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC raised its position in Cadence Design Systems by 933.3% during 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 during the last quarter. Brown Lisle Cummings Inc. increased its position in Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems during the 4th quarter worth approximately $28,000. Swiss RE Ltd. acquired a new position in shares of Cadence Design Systems in the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $30,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Down 1.0%

NASDAQ:CDNS opened at $315.92 on Tuesday. 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. The stock has a market capitalization of $87.00 billion, a price-to-earnings ratio of 62.81, a PEG ratio of 3.42 and a beta of 1.15. The firm has a fifty day simple moving average of $352.12 and a two-hundred day simple moving average of $331.88.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. Cadence Design Systems's revenue for the quarter 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. Analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDNS. Piper Sandler lifted their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Robert W. Baird lifted their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 28th. Bank of America boosted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $405.69.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares of the company's stock, valued at approximately $12,676,417.71. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the transaction, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. This trade represents a 6.10% 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. In the last 90 days, insiders have sold 89,599 shares of company stock valued at $35,710,627. 0.49% of the stock is currently 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.

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