Korea Investment CORP Invests $72.36 Million in Cadence Design Systems, Inc. $CDNS

Korea Investment CORP bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 192,806 shares of the software maker’s stock, valued at approximately $72,364,000.

Several other institutional investors also recently bought and sold shares of CDNS. MUFG Securities EMEA plc grew 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 valued at $3,488,000 after acquiring an additional 5,943 shares during the period. Sun Financial Inc acquired a new position in Cadence Design Systems during the fourth quarter worth $1,225,000. Leonteq Securities AG acquired a new position in Cadence Design Systems during the fourth quarter worth $1,105,000. Indivisible Partners purchased a new position in Cadence Design Systems during the fourth quarter valued at $4,795,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Cadence Design Systems by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock valued at $115,566,000 after purchasing an additional 3,562 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 company’s stock in a transaction that occurred 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 sale, the vice president directly owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,599 shares of company stock worth $35,710,627 in the last three months. 0.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Oppenheimer reiterated a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Citigroup boosted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company increased their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $319.02 on Friday. 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 company has a 50-day moving average price of $353.70 and a 200 day moving average price of $331.25. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The stock has a market cap of $87.86 billion, a P/E ratio of 63.42, a PEG ratio of 3.36 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results 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. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company posted $1.65 EPS. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. 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. Sell-side 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.