Corient Private Wealth LP purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 82,573 shares of the software maker's stock, valued at approximately $30,991,000.
A number of other institutional investors have also recently made changes to their positions in CDNS. George Kaiser Family Foundation purchased a new stake in Cadence Design Systems in the second quarter worth approximately $725,000. MUFG Securities EMEA plc raised its stake in shares of Cadence Design Systems by 113.9% during the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock worth $3,488,000 after acquiring an additional 5,943 shares in the last quarter. Sun Financial Inc bought a new stake in shares of Cadence Design Systems in the 4th quarter worth approximately $1,225,000. Leonteq Securities AG purchased a new stake in shares of Cadence Design Systems in the 4th quarter valued at $1,105,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Cadence Design Systems by 1.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker's stock valued at $115,566,000 after purchasing an additional 3,562 shares during the last quarter. Institutional investors own 84.85% of the company's stock.
Insiders Place Their Bets
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 $8,871,493.76. This represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vincentelli Albert Sangiovanni sold 1,250 shares of Cadence Design Systems stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total transaction of $401,100.00. Following the transaction, the director directly owned 40,794 shares of the company's stock, valued at approximately $13,089,978.72. This trade represents a 2.97% 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. Insiders have sold 91,129 shares of company stock valued at $36,206,647 in the last 90 days. Corporate insiders own 0.49% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Rosenblatt Securities boosted 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. Robert W. Baird increased their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. Finally, Piper Sandler raised their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $405.69.
Read Our Latest Analysis on Cadence Design Systems
Cadence Design Systems Stock Performance
NASDAQ:CDNS opened at $347.55 on Friday. 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 firm's fifty day simple moving average is $349.11 and its 200 day simple moving average is $333.21. The stock has a market cap of $95.71 billion, a P/E ratio of 69.10, a price-to-earnings-growth ratio of 3.59 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $1.65 EPS. The company's revenue for the quarter was up 24.2% on a year-over-year basis. 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, research analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.
Cadence Design Systems Company Profile
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Free Report)
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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