Libra Wealth LLC Acquires New Position in Cadence Design Systems, Inc. $CDNS

Libra Wealth LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,683 shares of the software maker’s stock, valued at approximately $632,000. Cadence Design Systems makes up 0.2% of Libra Wealth LLC’s holdings, making the stock its 29th largest position.

A number of other hedge funds have also added to or reduced their stakes in CDNS. Whipplewood Advisors LLC raised its stake in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems in the fourth quarter worth approximately $28,000. Swiss RE Ltd. purchased a new position in Cadence Design Systems during the 4th quarter worth $29,000. Finally, Imprint Wealth LLC bought a new stake in Cadence Design Systems during the 3rd quarter valued at $31,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Up 0.3%

Shares of NASDAQ:CDNS opened at $324.82 on Friday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business’s fifty day simple moving average is $360.72 and its 200-day simple moving average is $331.06. The company has a market capitalization of $89.45 billion, a PE ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $1.65 EPS. The business’s revenue for the quarter 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 predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 James D. Plummer sold 1,511 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director owned 23,264 shares in the company, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. 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 a total of 140,557 shares of company stock valued at $54,631,737 in the last three months. 0.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. Oppenheimer reaffirmed a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. Finally, Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

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.