Cadence Design Systems, Inc. $CDNS Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden cut its Cadence Design Systems stake by 41.1% in the second quarter, selling 16,120 shares and retaining 23,117 shares valued at $8.68 million. Institutional investors collectively own 84.85% of the company.
• Cadence reported quarterly EPS of $2.11, exceeding estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. The company issued fiscal 2026 EPS guidance of $8.05 to $8.15.
• Wall Street maintains a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $403.88, compared with the reported share price of $302.95.

Andra AP fonden reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 41.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 23,117 shares of the software maker's stock after selling 16,120 shares during the period. Andra AP fonden's holdings in Cadence Design Systems were worth $8,676,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CDNS. Whipplewood Advisors LLC lifted its stake in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock valued at $26,000 after purchasing an additional 84 shares during the period. Brown Lisle Cummings Inc. increased its holdings in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock worth $27,000 after acquiring an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth about $28,000. Avalon Trust Co acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $30,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Up 2.7%

Shares of NASDAQ:CDNS opened at $302.95 on Wednesday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm's 50 day moving average price is $319.82 and its 200 day moving average price is $333.13. 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 has a market cap of $83.43 billion, a price-to-earnings ratio of 60.23, a price-to-earnings-growth ratio of 3.16 and a beta of 1.14.

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

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 280 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company's stock, valued at approximately $10,753,080. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the transaction, the director owned 40,794 shares in the company, valued at approximately $13,089,978.72. This trade represents a 2.97% 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. Insiders have sold 5,710 shares of company stock valued at $1,748,292 over the last quarter. 0.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CDNS shares. Wells Fargo & Company raised their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. FBN Securities assumed coverage on Cadence Design Systems in a report on Friday, September 11th. They set an "outperform" rating and a $375.00 target price on the stock. Stifel Nicolaus increased their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Bank of America lifted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Finally, KeyCorp reiterated an "overweight" rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $403.88.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.

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