Oppenheimer Asset Management Inc. Makes New Investment in Cadence Design Systems, Inc. $CDNS

Oppenheimer Asset Management Inc. purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,454 shares of the software maker’s stock, valued at approximately $5,425,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of 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. purchased a new position in Cadence Design Systems during the 2nd quarter worth $205,000. NewEdge Advisors LLC grew its stake in Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co acquired a new position in Cadence Design Systems during the 2nd quarter valued at about $226,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 0.3%

Shares of CDNS stock opened at $324.82 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm 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 debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The stock’s 50-day simple moving average is $360.72 and its 200-day simple moving average is $331.06.

Cadence Design Systems (NASDAQ:CDNS) last released its 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. 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 company’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Equities analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Rosenblatt Securities increased their price target 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. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Citigroup increased their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler lifted their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Finally, KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the transaction, the vice president owned 126,586 shares of the company’s stock, valued at $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This represents a 2.20% 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 have sold 140,557 shares of company stock valued at $54,631,737. 0.49% of the stock is owned by corporate insiders.

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.