Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Northwestern Mutual Wealth Management increased its Cadence Design Systems stake by 22.1% in the second quarter, bringing its holdings to 19,533 shares valued at approximately $7.33 million.
• Institutional investors own 84.85% of CDNS, while insiders own 0.49%; company insiders sold 7,221 shares worth about $2.57 million over the past quarter under pre-arranged trading plans.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds and a consensus price target of $405.69. Cadence recently exceeded quarterly EPS estimates and reported 24.2% year-over-year revenue growth.

Northwestern Mutual Wealth Management Co. grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 22.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,533 shares of the software maker's stock after buying an additional 3,540 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Cadence Design Systems were worth $7,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after purchasing an additional 135,206 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock valued at $2,378,707,000 after purchasing an additional 92,152 shares during the period. Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 21.8% in the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker's stock worth $1,835,227,000 after purchasing an additional 874,392 shares during the last quarter. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cadence Design Systems by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker's stock worth $1,270,704,000 after buying an additional 48,937 shares during the period. Institutional investors own 84.85% of the company's stock.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 8,004 shares of the company's stock, valued at $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the transaction, the vice president directly owned 124,586 shares in the company, valued at $40,281,145.52. This trade represents a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,221 shares of company stock valued at $2,570,606. Company insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

CDNS has been the subject of several analyst reports. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Rosenblatt Securities boosted their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Bank of America upped their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Robert W. Baird increased their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Finally, Needham & Company LLC reiterated 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus target price of $405.69.

Cadence Design Systems Price Performance

CDNS opened at $306.67 on Thursday. The stock has a 50-day moving average price of $344.53 and a 200-day moving average price of $334.07. 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 firm has a market cap of $84.45 billion, a PE ratio of 60.97, a P/E/G ratio of 3.36 and a beta of 1.14. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69.

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 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 net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. 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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Cadence Design Systems 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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