4,000 Shares in Cadence Design Systems, Inc. $CDNS Bought by PDT Partners LLC

PDT Partners LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,000 shares of the software maker’s stock, valued at approximately $1,501,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDNS. Whipplewood Advisors LLC grew its position in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Brown Lisle Cummings Inc. grew its holdings 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 valued at $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at approximately $28,000. Swiss RE Ltd. acquired a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co purchased a new position in shares of Cadence Design Systems during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the transaction, the director owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their position. 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 have sold 89,599 shares of company stock worth $35,710,627 over the last ninety days. Company insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CDNS shares. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $405.69.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $334.68 on Thursday. The stock has a market cap of $92.17 billion, a PE ratio of 66.54, a P/E/G ratio of 3.56 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, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The stock has a fifty day simple moving average of $349.91 and a 200-day simple moving average of $332.76.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data 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 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 analyst estimates of $1.58 billion. During the same period in the prior year, the business 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. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

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.