Lombard Odier Asset Management Europe Ltd Invests $18.07 Million in Cadence Design Systems, Inc. $CDNS

Lombard Odier Asset Management Europe Ltd bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,144 shares of the software maker’s stock, valued at approximately $18,069,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its holdings in Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Cadence Design Systems by 860.0% in the 1st 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 in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cadence Design Systems in the 4th quarter valued at $28,000. Swiss RE Ltd. purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth $29,000. Finally, Avalon Trust Co purchased a new stake in shares of Cadence Design Systems during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CDNS shares. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Oppenheimer reaffirmed a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Robert W. Baird increased their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 51,822 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the completion of the sale, the chief executive officer directly owned 278,524 shares of the company’s stock, valued at $110,016,980. This represents a 15.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the transaction, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. This represents a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 91,129 shares of company stock valued at $36,206,647. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Trading Down 2.1%

Shares of Cadence Design Systems stock opened at $340.39 on Friday. The company has a fifty day simple moving average of $348.17 and a 200-day simple moving average of $333.27. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The stock has a market cap of $93.74 billion, a price-to-earnings ratio of 67.67, a PEG ratio of 3.73 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced 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 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 last year, the business earned $1.65 EPS. Cadence Design Systems’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. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

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.