Canada Pension Plan Investment Board Makes New $188.90 Million Investment in Cadence Design Systems, Inc. $CDNS

Canada Pension Plan Investment Board acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The firm acquired 503,294 shares of the software maker’s stock, valued at approximately $188,896,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its position in shares of Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC lifted its position in Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after buying an additional 92,152 shares during the last quarter. Norges Bank purchased a new position in Cadence Design Systems during the fourth quarter worth $1,352,922,000. Van ECK Associates Corp boosted its stake in Cadence Design Systems by 11.9% during the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after buying an additional 376,654 shares during the period. Finally, J. Stern & Co. LLP increased its position in Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after acquiring an additional 2,924,470 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $334.68 on Thursday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The firm has a market cap of $92.17 billion, a price-to-earnings ratio of 66.54, a PEG ratio of 3.56 and a beta of 1.15. The business’s fifty day simple moving average is $349.91 and its two-hundred day simple moving average is $332.76. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CDNS shares. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Citigroup upped their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” 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 research note on Saturday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director directly owned 8,004 shares in the company, valued at $3,101,149.80. This trade represents a 2.20% decrease in their position. The transaction 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 Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This trade represents a 18.04% 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. In the last ninety days, insiders have sold 89,599 shares of company stock valued at $35,710,627. Insiders own 0.49% of the company’s stock.

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.