North Star Asset Management Inc. Buys New Position in Cadence Design Systems, Inc. $CDNS

North Star Asset Management Inc. purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, HoldingsChannel.com reports. The firm purchased 19,738 shares of the software maker’s stock, valued at approximately $7,408,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after acquiring an additional 135,206 shares during the period. Geode Capital Management LLC grew its holdings in Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after acquiring an additional 92,152 shares during the period. Norges Bank acquired a new position in Cadence Design Systems during the fourth quarter worth $1,352,922,000. Van ECK Associates Corp lifted its holdings in Cadence Design Systems by 11.9% in the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after acquiring an additional 376,654 shares during the period. Finally, J. Stern & Co. LLP increased its holdings in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after purchasing an additional 2,924,470 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CDNS. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Piper Sandler raised their target price 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. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Trading Up 3.8%

NASDAQ:CDNS opened at $347.55 on Friday. The business’s 50-day simple moving average is $349.11 and its 200 day simple moving average is $333.21. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The stock has a market cap of $95.71 billion, a price-to-earnings ratio of 69.10, a price-to-earnings-growth ratio of 3.59 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.

Cadence Design Systems (NASDAQ:CDNS) last issued 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Scannell sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 that occurred on Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the sale, the vice president owned 124,586 shares of the company’s stock, valued at $40,281,145.52. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 91,129 shares of company stock worth $36,206,647 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.

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.