Cornerstone Advisors LLC Buys Shares of 43,146 Cadence Design Systems, Inc. $CDNS

Cornerstone Advisors LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 43,146 shares of the software maker's stock, valued at approximately $16,194,000.

Other hedge funds have also recently bought and sold shares of the company. MUFG Securities EMEA plc lifted its position in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock worth $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Sun Financial Inc acquired a new position in Cadence Design Systems in the 4th quarter valued at approximately $1,225,000. Leonteq Securities AG purchased a new stake in Cadence Design Systems in the 4th quarter worth approximately $1,105,000. Indivisible Partners purchased a new stake in Cadence Design Systems in the 4th quarter worth approximately $4,795,000. Finally, PNC Financial Services Group Inc. boosted its stake 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 buying an additional 3,562 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cadence Design Systems

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 transaction of $576,204.74. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the sale, the chief executive officer owned 253,519 shares of the company's stock, valued at approximately $105,210,385. The trade was a 8.98% decrease in their position. 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 139,486 shares of company stock worth $54,262,177. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $323.47 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The firm has a fifty day simple moving average of $359.31 and a 200-day simple moving average of $331.16. The stock has a market capitalization of $89.08 billion, a price-to-earnings ratio of 64.31, a PEG ratio of 3.49 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 was up 24.2% compared to the same quarter last year. During the same period last year, the business 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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDNS. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a report on Wednesday, May 27th. Oppenheimer reissued a "market perform" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Bank of America boosted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Benchmark reaffirmed a "buy" rating on shares of Cadence Design Systems 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 company's stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus price target of $405.69.

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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