Cibc World Market Inc. Buys New Stake in Cadence Design Systems, Inc. $CDNS

Cibc World Market Inc. bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,570 shares of the software maker’s stock, valued at approximately $6,594,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. George Kaiser Family Foundation purchased a new position in Cadence Design Systems in the second quarter valued at $725,000. MUFG Securities EMEA plc increased its holdings in Cadence Design Systems by 113.9% during 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. Sun Financial Inc purchased a new stake in Cadence Design Systems during the 4th quarter worth about $1,225,000. Leonteq Securities AG acquired a new stake in Cadence Design Systems in the 4th quarter valued at about $1,105,000. Finally, Indivisible Partners acquired a new stake in Cadence Design Systems in the 4th quarter valued at about $4,795,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CDNS shares. Oppenheimer reissued a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Transactions at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction 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 $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This trade represents a 18.04% 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. Over the last three months, insiders sold 89,599 shares of company stock worth $35,710,627. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $331.90 on Wednesday. The stock has a 50 day moving average price of $351.00 and a 200 day moving average price of $332.31. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $91.40 billion, a price-to-earnings ratio of 65.98, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for 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 firm’s revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $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. Research analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

About Cadence Design Systems

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.