8,460 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Global Retirement Partners LLC

Key Points

• Global Retirement Partners initiated a Cadence Design Systems position by purchasing 8,460 shares valued at approximately $3.18 million. Institutional investors collectively own 84.85% of CDNS, with major holders including Vanguard, State Street and Geode Capital.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $405.69. Several firms recently raised their price targets, including Stifel Nicolaus to $432.
• Cadence reported quarterly EPS of $2.11, beating estimates by $0.06, while revenue reached $1.58 billion and rose 24.2% year over year. The stock opened at $324.82, while recent insider activity included $54.3 million in sales over three months under pre-arranged trading plans.

Global Retirement Partners LLC acquired a new position 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 fund acquired 8,460 shares of the software maker's stock, valued at approximately $3,175,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock valued at $8,511,888,000 after buying an additional 307,753 shares during the period. State Street Corp grew its stake 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 acquiring an additional 135,206 shares during the period. Geode Capital Management LLC increased its holdings in Cadence Design Systems by 1.2% in 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 acquiring an additional 92,152 shares during the last quarter. Norges Bank purchased a new stake in Cadence Design Systems in the 4th quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp raised its stake in Cadence Design Systems by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker's stock valued at $1,104,714,000 after acquiring an additional 376,654 shares during the period. 84.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CDNS. Citigroup upped their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Stifel Nicolaus boosted their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Piper Sandler increased their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Finally, Rosenblatt Securities lifted their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $405.69.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $324.82 on Monday. 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's 50-day simple moving average is $360.72 and its two-hundred day simple moving average is $331.12. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market capitalization of $89.45 billion, a price-to-earnings ratio of 64.58, a PEG ratio of 3.49 and a beta of 1.15.

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 for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company's revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the company earned $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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Insider Activity

In other news, CEO Anirudh Devgan sold 51,887 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the sale, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. The trade was a 14.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the sale, the vice president directly owned 126,586 shares of the company's stock, valued at $49,495,126. This trade represents a 1.56% decrease in their position. 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. In the last three months, insiders sold 139,486 shares of company stock valued at $54,262,177. Insiders own 0.49% of the company's stock.

About Cadence Design Systems

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.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

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