4,000 Shares in Cadence Design Systems, Inc. $CDNS Purchased by PDT Partners LLC

Key Points

• PDT Partners LLC purchased 4,000 Cadence Design Systems shares in the second quarter, valued at approximately $1.5 million. Institutional investors collectively own 84.85% of CDNS.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $405.69.
• Cadence reported quarterly EPS of $2.11, exceeding estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. Insiders sold 89,599 shares worth approximately $35.7 million during the last quarter.

PDT Partners LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,000 shares of the software maker's stock, valued at approximately $1,501,000.

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

Analyst Ratings Changes

A number of research firms have recently commented on CDNS. Benchmark reaffirmed a "buy" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Bank of America upped their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Morgan Stanley reiterated an "overweight" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Finally, Citigroup lifted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $405.69.

Insiders Place Their Bets

In related news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director directly owned 8,004 shares of the company's stock, valued at $3,101,149.80. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the sale, the vice president directly owned 124,586 shares of the company's stock, valued at approximately $40,281,145.52. This represents a 1.58% 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. In the last quarter, insiders have sold 89,599 shares of company stock valued at $35,710,627. Corporate insiders own 0.49% of the company's stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $334.68 on Thursday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The company has a market cap of $92.17 billion, a PE ratio of 66.54, a P/E/G ratio of 3.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The business has a 50-day simple moving average of $349.91 and a two-hundred day simple moving average of $332.76.

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, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems's revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm 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, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

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.

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