34,030 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers acquired 34,030 Cadence Design Systems shares during the second quarter, valued at approximately $12.8 million. Institutional investors collectively own 84.85% of CDNS.
• Cadence reported quarterly EPS of $2.11, exceeding estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. The company issued fiscal 2026 EPS guidance of $8.05–$8.15.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $405.69, although CDNS recently opened at $316.52 and insiders have sold roughly $54.3 million of stock over the past 90 days.

Wealthfront Advisers LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 34,030 shares of the software maker's stock, valued at approximately $12,772,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC increased its stake in shares of Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock valued at $26,000 after purchasing an additional 84 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock worth $27,000 after buying an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems in the 4th quarter worth approximately $28,000. Swiss RE Ltd. acquired a new stake in Cadence Design Systems in the 4th quarter valued at approximately $29,000. Finally, Avalon Trust Co acquired a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $30,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $316.52 on Wednesday. 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 capitalization of $87.17 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 3.49 and a beta of 1.15. The stock's fifty day simple moving average is $357.82 and its 200 day simple moving average is $331.13. 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 quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm's revenue was up 24.2% compared to the same quarter last year. 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, sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Morgan Stanley restated an "overweight" rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Oppenheimer reaffirmed a "market perform" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, KeyCorp reissued an "overweight" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $405.69.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director owned 8,004 shares of the company's stock, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 32,181 shares of the company's stock, valued at $12,676,417.71. This trade represents a 18.04% 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 sold 139,486 shares of company stock worth $54,262,177. 0.49% of the stock is currently owned by company insiders.

Cadence Design Systems 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