Empowered Funds LLC Takes Position in Cadence Design Systems, Inc. $CDNS

Empowered Funds LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel.com reports. The fund purchased 30,734 shares of the software maker’s stock, valued at approximately $11,535,000.

Several other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC grew its stake 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 buying an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake 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 buying an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Cadence Design Systems in the fourth quarter valued at $28,000. Swiss RE Ltd. acquired a new position in shares of Cadence Design Systems during the fourth quarter valued at $29,000. Finally, Avalon Trust Co bought a new position in shares of Cadence Design Systems during the second quarter worth about $30,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In other news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the transaction, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares in the company, valued at $10,753,080. This represents a 0.88% 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 91,129 shares of company stock valued at $36,206,647 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDNS. Piper Sandler increased their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Oppenheimer reaffirmed a “market perform” rating and set a $300.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Bank of America boosted their price objective on 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $340.39 on Friday. The stock has a market cap of $93.74 billion, a P/E ratio of 67.67, a P/E/G ratio of 3.65 and a beta of 1.15. The firm’s 50-day simple moving average is $348.17 and its 200 day simple moving average is $333.27. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. 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 issued its quarterly 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business’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 business posted $1.65 EPS. 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 EPS 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.