Meeder Advisory Services Inc. Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Meeder Advisory Services acquired 9,351 Cadence Design Systems shares worth approximately $3.51 million in the second quarter. Institutional investors collectively own 84.85% of the company.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $405.69.
• Cadence reported quarterly EPS of $2.11, exceeding estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. Insiders, however, sold 139,486 shares worth about $54.3 million over the past 90 days.

Meeder Advisory Services Inc. purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,351 shares of the software maker's stock, valued at approximately $3,510,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC boosted its stake in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock valued at $27,000 after buying an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Cadence Design Systems during the fourth quarter worth approximately $28,000. Swiss RE Ltd. purchased a new stake in Cadence Design Systems in the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $30,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. This trade represents a 2.20% 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 139,486 shares of company stock worth $54,262,177 over the last 90 days. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. KeyCorp reiterated an "overweight" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Morgan Stanley reaffirmed an "overweight" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $405.69.

Cadence Design Systems Price Performance

CDNS opened at $316.52 on Wednesday. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a 50 day moving average of $357.82 and a two-hundred day moving average of $331.13. The company has a market cap of $87.17 billion, a P/E ratio of 62.93, 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 (NASDAQ:CDNS - Get Free Report) last issued its earnings results 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 business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $1.65 EPS. The business's revenue for the quarter 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. On average, analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

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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