2,548 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Continuum Advisory LLC

Continuum Advisory LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,548 shares of the software maker’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDNS. Norges Bank acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $1,352,922,000. J. Stern & Co. LLP boosted its position in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after purchasing an additional 2,924,470 shares during the period. Legal & General Group Plc acquired a new position in Cadence Design Systems during the 2nd quarter valued at approximately $702,615,000. Jupiter Topco LLC bought a new position in Cadence Design Systems during the 2nd quarter worth $688,746,000. Finally, Wellington Management Group LLP grew its stake in Cadence Design Systems by 218.6% during the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after buying an additional 1,751,927 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CDNS. Rosenblatt Securities raised their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Citigroup increased their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Stifel Nicolaus boosted their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Bank of America upped their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Thirteen research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insiders Place Their Bets

In related news, Director James Plummer sold 1,511 shares of the stock in a transaction that occurred on 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 directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction 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 represents a 2.97% 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. Over the last three months, insiders sold 7,221 shares of company stock worth $2,570,606. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 0.6%

Cadence Design Systems stock opened at $304.88 on Friday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The stock has a market cap of $83.96 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 3.29 and a beta of 1.14. The company’s 50-day moving average price is $343.26 and its two-hundred day moving average price is $334.10. 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 earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. 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, analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

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.