NEOS Investment Management LLC Acquires 21,831 Shares of Cadence Design Systems, Inc. $CDNS

NEOS Investment Management LLC grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,597 shares of the software maker’s stock after acquiring an additional 21,831 shares during the quarter. NEOS Investment Management LLC owned 0.08% of Cadence Design Systems worth $78,291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CDNS. George Kaiser Family Foundation acquired a new stake in shares of Cadence Design Systems during the second quarter worth $725,000. MUFG Securities EMEA plc boosted its stake in Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after purchasing an additional 5,943 shares during the period. Leonteq Securities AG acquired a new position in Cadence Design Systems in the 4th quarter worth $1,105,000. PNC Financial Services Group Inc. increased its holdings in Cadence Design Systems by 1.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock worth $115,566,000 after purchasing an additional 3,562 shares in the last quarter. Finally, Vega Investment Solutions bought a new position in Cadence Design Systems during the 2nd quarter worth about $1,957,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CDNS shares. Rosenblatt Securities boosted their price target on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Stifel Nicolaus increased their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Oppenheimer reissued a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Piper Sandler upped their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Trading Down 0.6%

Cadence Design Systems stock opened at $304.88 on Friday. The firm has a 50-day moving average of $343.26 and a 200-day moving average of $334.10. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The company has a market cap of $83.96 billion, a price-to-earnings ratio of 60.61, a P/E/G ratio of 3.29 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.Cadence Design Systems’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company earned $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. On average, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the sale, the director owned 40,794 shares in the company, valued at $13,089,978.72. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. 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 value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,221 shares of company stock valued at $2,570,606. 0.49% of the stock is owned by insiders.

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.