Thornburg Investment Management Inc. Raises Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Thornburg Investment Management increased its Cadence Design Systems stake by 258.4% in the second quarter, bringing its holdings to 7,375 shares valued at approximately $2.77 million. Institutional investors collectively own 84.85% of CDNS.
• Cadence reported quarterly EPS of $2.11, beating estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. The company issued fiscal 2026 EPS guidance of $8.05–$8.15.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $405.69, although insiders sold 91,129 shares worth $36.2 million over the past 90 days.

Thornburg Investment Management Inc. boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 258.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,375 shares of the software maker's stock after purchasing an additional 5,317 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Cadence Design Systems were worth $2,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after acquiring an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock worth $560,000 after purchasing an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in Cadence Design Systems in the 2nd quarter valued at $205,000. NewEdge Advisors LLC boosted its holdings in Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock valued at $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co purchased a new stake in shares of Cadence Design Systems in the second quarter worth $226,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS stock opened at $340.39 on Friday. The firm has a market cap of $93.74 billion, a P/E ratio of 67.67, a P/E/G ratio of 3.65 and a beta of 1.15. The firm's fifty day moving average is $348.17 and its 200 day moving average is $333.27. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior 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. Research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vincentelli Albert Sangiovanni sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total value of $401,100.00. Following the sale, the director directly owned 40,794 shares of the company's stock, valued at approximately $13,089,978.72. This trade represents a 2.97% 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 ninety days, insiders sold 91,129 shares of company stock worth $36,206,647. 0.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CDNS shares. Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Wells Fargo & Company lifted 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. Oppenheimer restated a "market perform" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler increased their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $405.69.

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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