Bank Hapoalim BM Acquires New Holdings in Cadence Design Systems, Inc. $CDNS

Bank Hapoalim BM bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,924 shares of the software maker's stock, valued at approximately $1,848,000.

A number of other institutional investors have also recently bought and sold shares of CDNS. Norges Bank bought a new position in Cadence Design Systems during the 4th quarter worth about $1,352,922,000. J. Stern & Co. LLP raised its stake in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock valued at $923,129,000 after purchasing an additional 2,924,470 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock valued at $798,087,000 after purchasing an additional 1,751,927 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cadence Design Systems by 232.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker's stock valued at $397,521,000 after purchasing an additional 999,862 shares in the last quarter. Finally, Scge Management L.P. acquired a new position in shares of Cadence Design Systems during the second quarter worth about $187,663,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Up 0.3%

Shares of Cadence Design Systems stock opened at $324.82 on Friday. The stock has a market cap of $89.45 billion, a P/E ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. 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, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business's 50 day moving average is $360.72 and its 200-day moving average is $331.06.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results 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. The business had revenue of $1.58 billion during 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 revenue was up 24.2% on a year-over-year basis. During the same period last 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. Equities research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the subject of a number of research reports. Rosenblatt Securities increased their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average target price of $405.69.

Insider Buying and Selling

In other news, 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 value of $576,204.74. Following the sale, the director directly owned 23,264 shares of the company's stock, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their position. The sale 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 firm's stock in a transaction dated 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 owned 126,586 shares of the company's stock, valued at $49,495,126. This trade represents a 1.56% 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 quarter, insiders have sold 140,557 shares of company stock worth $54,631,737. Corporate insiders own 0.49% of the company's stock.

Cadence Design Systems Company 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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