E20 Capital Ltd bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 104,733 shares of the software maker's stock, valued at approximately $39,308,000. Cadence Design Systems makes up 3.2% of E20 Capital Ltd's holdings, making the stock its 10th biggest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cadence Design Systems in the 2nd quarter valued at approximately $54,323,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $548,000. Benchmark Investment Advisors LLC bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $404,000. Clear Harbor Asset Management LLC bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $5,537,000. Finally, Bank of Nova Scotia acquired a new position in shares of Cadence Design Systems in the second quarter valued at $29,521,000. 84.85% of the stock is currently owned by institutional investors.
Cadence Design Systems Stock Performance
Cadence Design Systems stock opened at $319.02 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The stock has a fifty day moving average price of $353.70 and a two-hundred day moving average price of $331.55. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The firm has a market capitalization of $87.85 billion, a P/E ratio of 63.42, a P/E/G ratio of 3.42 and a beta of 1.15.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period last year, the business earned $1.65 earnings per share. The business's revenue 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, analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.
Insider Transactions at Cadence Design Systems
In other Cadence Design Systems 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,822 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $395.00, for a total transaction of $20,469,690.00. Following the sale, the chief executive officer directly owned 278,524 shares of the company's stock, valued at approximately $110,016,980. The trade was a 15.69% 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 90 days, insiders sold 89,599 shares of company stock valued at $35,710,627. 0.49% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Oppenheimer reiterated a "market perform" rating and set a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup raised their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. 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. Morgan Stanley reissued an "overweight" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Finally, Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus target price of $405.69.
Get Our Latest Stock Analysis on Cadence Design Systems
About Cadence Design Systems
(
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.
See Also
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