Allworth Financial LP Acquires Shares of 8,588 Cadence Design Systems, Inc. $CDNS

Allworth Financial LP acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,588 shares of the software maker's stock, valued at approximately $3,223,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. J. Stern & Co. LLP lifted its holdings in Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock valued at $923,129,000 after acquiring an additional 2,924,470 shares during the period. Wellington Management Group LLP boosted its position in Cadence Design Systems by 218.6% in the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock worth $798,087,000 after purchasing an additional 1,751,927 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $607,350,000. Finally, Deutsche Bank AG acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $532,338,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In related news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company's stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company's stock, valued at $8,871,493.76. This represents a 6.10% 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. Over the last ninety days, insiders sold 89,599 shares of company stock valued at $35,710,627. Insiders own 0.49% of the company's stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $319.02 on Friday. The company has a market cap of $87.85 billion, a PE ratio of 63.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.15. The stock's 50 day simple moving average is $353.70 and its 200-day simple moving average is $331.25. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the business earned $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. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several analyst reports. Citigroup boosted their target price 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 shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Finally, Bank of America raised their target price 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. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average price target of $405.69.

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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