9,186 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Nilsine Partners LLC

Key Points

• Nilsine Partners LLC acquired 9,186 Cadence Design Systems shares worth approximately $3.45 million during the second quarter. Institutional investors collectively own 84.85% of CDNS.
• Cadence reported quarterly EPS of $2.11, exceeding estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. Shares opened at $292.70, down 4.0%, and remain below their 50-day and 200-day moving averages.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and three Holds and an average price target of $405.69. Company insiders sold 7,221 shares worth $2.57 million over the past quarter.

Nilsine Partners LLC acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,186 shares of the software maker's stock, valued at approximately $3,448,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. George Kaiser Family Foundation purchased a new stake in Cadence Design Systems during the 2nd quarter valued at about $725,000. MUFG Securities EMEA plc increased its stake in Cadence Design Systems by 113.9% during the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock valued at $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Leonteq Securities AG purchased a new position in Cadence Design Systems in the fourth quarter worth about $1,105,000. PNC Financial Services Group Inc. raised its holdings in Cadence Design Systems by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker's stock worth $115,566,000 after buying an additional 3,562 shares during the last quarter. Finally, Vega Investment Solutions purchased a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $1,957,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Down 4.0%

Shares of Cadence Design Systems stock opened at $292.70 on Friday. The company has a market cap of $80.61 billion, a price-to-earnings ratio of 58.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. The company's 50 day moving average is $341.57 and its 200 day moving average is $333.81. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

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 (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. 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 anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Piper Sandler increased their target price on Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Robert W. Baird lifted their target price on Cadence Design Systems from $415.00 to $420.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Finally, Rosenblatt Securities increased their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $405.69.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director owned 23,264 shares of the company's stock, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 firm's 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 completion of the transaction, the vice president directly owned 124,586 shares in the company, valued at $40,281,145.52. The trade was a 1.58% 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. Over the last quarter, insiders sold 7,221 shares of company stock worth $2,570,606. Company 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.

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