Citizens Financial Group Inc. RI Invests $1.68 Million in Cadence Design Systems, Inc. $CDNS

Citizens Financial Group Inc. RI purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,479 shares of the software maker’s stock, valued at approximately $1,681,000.

Other large investors also recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $470,000. Cornerstone Advisors LLC acquired a new position in Cadence Design Systems in the second quarter worth $16,194,000. MidFirst Bank acquired a new position in Cadence Design Systems in the second quarter worth $261,000. Dunhill Financial LLC bought a new stake in Cadence Design Systems during the second quarter valued at $315,000. Finally, Deutsche Bank AG acquired a new stake in shares of Cadence Design Systems during the second quarter worth $532,338,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at $105,210,385. This represents a 8.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares in the company, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. 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 139,486 shares of company stock valued at $54,262,177. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDNS. Wells Fargo & Company raised their price target 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. Citigroup increased their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Piper Sandler upped their target price on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Performance

CDNS stock opened at $316.52 on Wednesday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The stock has a market capitalization of $87.17 billion, a price-to-earnings ratio of 62.93, a PEG 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 fifty day moving average is $357.82 and its two-hundred day moving average is $331.13.

Cadence Design Systems (NASDAQ:CDNS) last released 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. The business 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 company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. On average, research analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

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.