Nykredit A S Purchases Shares of 334,586 Cadence Design Systems, Inc. $CDNS

Key Points

• Nykredit A/S acquired 334,586 shares of Cadence Design Systems during the second quarter, valued at approximately $125.6 million and representing 0.12% of the company. Institutional investors collectively own 84.85% of CDNS.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $405.69. Recent targets range from $349 to $420.
• Cadence reported quarterly earnings of $2.11 per share, beating estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. The stock opened at $306.67, down 2.0%.

Nykredit A S bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 334,586 shares of the software maker's stock, valued at approximately $125,577,000. Nykredit A S owned 0.12% of Cadence Design Systems at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Cadence Design Systems by 3.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock worth $287,000 after purchasing an additional 31 shares during the last quarter. Westfuller Advisors LLC grew its position in shares of Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock worth $113,000 after buying an additional 31 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Cadence Design Systems by 32.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker's stock worth $37,000 after buying an additional 32 shares in the last quarter. KCM Investment Advisors LLC increased its stake in shares of Cadence Design Systems by 0.4% in the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker's stock worth $2,227,000 after buying an additional 32 shares during the last quarter. Finally, Fulton Bank N.A. raised its holdings in Cadence Design Systems by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker's stock valued at $486,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 280 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the transaction, the vice president directly owned 31,720 shares in the company, valued at $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 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 transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% 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. Insiders sold 7,221 shares of company stock worth $2,570,606 in the last three months. Insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDNS. Morgan Stanley reissued an "overweight" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Benchmark reissued a "buy" rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rosenblatt Securities lifted their target price on Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Piper Sandler upped their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $405.69.

Cadence Design Systems Stock Down 2.0%

Shares of Cadence Design Systems stock opened at $306.67 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The business's fifty day moving average price is $344.53 and its two-hundred day moving average price is $334.07. The company has a market capitalization of $84.45 billion, a P/E ratio of 60.97, a PEG ratio of 3.36 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly 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 return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $1.65 earnings per share. The company's quarterly revenue 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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current 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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