Sumitomo Life Insurance Co. Purchases Shares of 31,046 Cadence Design Systems, Inc. $CDNS

Sumitomo Life Insurance Co. purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,046 shares of the software maker’s stock, valued at approximately $11,652,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC increased its position in Cadence Design Systems by 3.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after acquiring an additional 31 shares during the period. Westfuller Advisors LLC raised its stake in Cadence Design Systems by 8.2% during the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after acquiring an additional 31 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in Cadence Design Systems by 32.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after acquiring an additional 32 shares during the period. KCM Investment Advisors LLC boosted its position in Cadence Design Systems by 0.4% during the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 32 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Cadence Design Systems by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker’s stock worth $486,000 after purchasing an additional 33 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $319.02 on Friday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm 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. The stock has a fifty day moving average price of $353.70 and a two-hundred day moving average price of $331.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Bank of America increased their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Piper Sandler boosted their price target on shares of 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the sale, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the sale, the vice president directly owned 124,586 shares of the company’s stock, valued at $40,281,145.52. The trade was a 1.58% 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. Insiders sold 89,599 shares of company stock valued at $35,710,627 over the last quarter. Insiders own 0.49% of the company’s stock.

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.