Public Employees Retirement System of Ohio bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 107,959 shares of the software maker's stock, valued at approximately $40,519,000.
A number of other institutional investors have also recently bought and sold shares of the business. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of 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 valued at $287,000 after acquiring an additional 31 shares in the last quarter. Westfuller Advisors LLC raised its position in Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock worth $113,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in 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 purchasing an additional 32 shares during the period. KCM Investment Advisors LLC lifted its stake in Cadence Design Systems by 0.4% during the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker's stock worth $2,227,000 after purchasing an additional 32 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in Cadence Design Systems by 2.6% during the second quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker's stock valued at $486,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. KeyCorp reiterated an "overweight" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Citigroup boosted their price target 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, Wells Fargo & Company upped their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Thirteen investment 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $405.69.
Check Out Our Latest Report on Cadence Design Systems
Cadence Design Systems Price Performance
NASDAQ:CDNS opened at $340.39 on Friday. The firm has a market cap of $93.74 billion, a PE ratio of 67.67, a price-to-earnings-growth ratio of 3.73 and a beta of 1.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $348.17 and its two-hundred day moving average price is $333.27.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $1.65 earnings per share. The company'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. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.
Insider Buying and Selling at Cadence Design Systems
In other news, VP Paul Scannell sold 280 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the sale, the vice president owned 31,720 shares in the company, valued at approximately $10,753,080. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% 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. Insiders sold 91,129 shares of company stock worth $36,206,647 over the last 90 days. Company insiders own 0.49% of the company's stock.
Cadence Design Systems Company Profile
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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.
Further Reading
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