1,573 Shares in Cadence Design Systems, Inc. $CDNS Acquired by L2 Asset Management LLC

L2 Asset Management LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,573 shares of the software maker’s stock, valued at approximately $590,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on CDNS. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Oppenheimer reissued a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a report on Wednesday, May 27th. Finally, Bank of America lifted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Buying and Selling

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. The trade was 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. Insiders have sold 89,599 shares of company stock valued at $35,710,627 over the last three months. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Up 5.1%

Shares of NASDAQ CDNS opened at $331.90 on Wednesday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The stock’s fifty day simple moving average is $351.00 and its two-hundred day simple moving average is $332.31. The stock has a market capitalization of $91.40 billion, a PE ratio of 65.98, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company 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. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal 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.