4,063 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Goelzer Investment Management Inc.

Key Points

• Goelzer Investment Management acquired 4,063 Cadence Design Systems shares worth approximately $1.34 million during the third quarter. Institutional investors collectively own 84.85% of CDNS.
• Cadence reported quarterly earnings of $2.11 per share, beating estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $404.14 compared with the reported share price of $319.51.

Goelzer Investment Management Inc. bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,063 shares of the software maker's stock, valued at approximately $1,342,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. George Kaiser Family Foundation bought a new stake in Cadence Design Systems in the second quarter worth about $725,000. Vega Investment Solutions bought a new position in shares of Cadence Design Systems during the second quarter valued at approximately $1,957,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Cadence Design Systems by 65.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 26,160 shares of the software maker's stock valued at $8,638,000 after buying an additional 10,376 shares during the last quarter. Osmosis Investment Management UK Ltd purchased a new stake in shares of Cadence Design Systems in the second quarter worth approximately $5,238,000. Finally, Lombard Odier Asset Management Europe Ltd raised its holdings in shares of Cadence Design Systems by 30.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 52,941 shares of the software maker's stock worth $14,711,000 after buying an additional 12,495 shares during the period. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Price Performance

CDNS opened at $319.51 on Friday. The company has a market capitalization of $87.99 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 3.42 and a beta of 1.13. 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, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business's fifty day simple moving average is $318.85 and its 200-day simple moving average is $338.84.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The firm'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. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDNS. Oppenheimer reissued a "market perform" rating and set a $300.00 price target (up from $275.00) on shares of Cadence Design Systems in a research note on Tuesday, July 28th. 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. FBN Securities assumed coverage on Cadence Design Systems in a research report on Friday, September 11th. They issued an "outperform" rating and a $375.00 price objective on the stock. Citigroup increased their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $404.14.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the transaction, the director directly owned 7,824 shares of the company's stock, valued at approximately $2,233,830.24. The trade was a 2.25% decrease in their ownership of the stock. The transaction 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, VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $324.13, for a total value of $648,260.00. Following the transaction, the vice president directly owned 119,612 shares in the company, valued at approximately $38,769,837.56. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 8,960 shares of company stock worth $2,834,139. 0.49% of the stock is currently owned by insiders.

About Cadence Design Systems

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.

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