TrinityBridge Ltd Buys Shares of 69,448 Cadence Design Systems, Inc. $CDNS

Key Points

• TrinityBridge Ltd acquired 69,448 Cadence Design Systems shares worth approximately $26.1 million in the second quarter, making CDNS about 0.7% of its portfolio. Institutional investors and hedge funds collectively own 84.85% of the stock.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $405.69.
• Cadence reported second-quarter EPS of $2.11, exceeding estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. The stock recently traded at $313.59, down 0.4%, while insiders have sold roughly $35.7 million of shares over the past 90 days.

TrinityBridge Ltd acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 69,448 shares of the software maker's stock, valued at approximately $26,059,000. Cadence Design Systems comprises approximately 0.7% of TrinityBridge Ltd's holdings, making the stock its 29th biggest position.

Several other large investors have also bought and sold shares of CDNS. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Cadence Design Systems by 3.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock valued at $287,000 after buying an additional 31 shares during the period. Westfuller Advisors LLC boosted its position in Cadence Design Systems by 8.2% during the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock worth $113,000 after buying an additional 31 shares during the period. Cornerstone Planning Group LLC grew its holdings in Cadence Design Systems by 32.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker's stock worth $37,000 after acquiring an additional 32 shares during the last quarter. KCM Investment Advisors LLC grew its holdings in Cadence Design Systems by 0.4% during the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker's stock worth $2,227,000 after acquiring an additional 32 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in Cadence Design Systems by 2.6% in the 2nd 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 during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDNS. Citigroup raised their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research report on Wednesday, May 27th. Wells Fargo & Company increased their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Piper Sandler raised their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and an average target price of $405.69.

Cadence Design Systems Trading Down 0.4%

NASDAQ:CDNS opened at $313.59 on Friday. 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 one year low of $262.75 and a one year high of $416.69. The company has a market cap of $86.36 billion, a PE ratio of 62.34, a PEG ratio of 3.38 and a beta of 1.15. The firm has a 50-day moving average of $355.01 and a 200-day moving average of $331.34.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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 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 firm posted $1.65 EPS. Cadence Design Systems'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, equities research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James D. Plummer sold 1,511 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company's stock, valued at $8,871,493.76. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the transaction, the vice president owned 124,586 shares of the company's stock, valued at approximately $40,281,145.52. The trade was a 1.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 89,599 shares of company stock valued at $35,710,627. 0.49% of the stock is currently owned by insiders.

About Cadence Design Systems

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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