Cadence Design Systems, Inc. $CDNS Position Cut by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 49.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,882 shares of the software maker’s stock after selling 6,732 shares during the period. TD Waterhouse Canada Inc.’s holdings in Cadence Design Systems were worth $2,600,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at about $1,352,922,000. J. Stern & Co. LLP raised its position in shares of Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after buying an additional 2,924,470 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Cadence Design Systems in the second quarter valued at approximately $702,615,000. Jupiter Topco LLC acquired a new position in shares of Cadence Design Systems during the second quarter valued at approximately $688,746,000. Finally, Wellington Management Group LLP raised its holdings in Cadence Design Systems by 218.6% during the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after purchasing an additional 1,751,927 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CDNS shares. Stifel Nicolaus upped their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 29th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Price Performance

CDNS stock opened at $292.70 on Tuesday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm has a 50-day moving average of $339.97 and a two-hundred day moving average of $334.12. The firm has a market capitalization of $80.61 billion, a PE ratio of 58.19, a P/E/G ratio of 3.14 and a beta of 1.14. 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 announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $1.65 EPS. The company’s revenue 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. On average, analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Activity

In other news, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the transaction, the vice president directly owned 124,586 shares of the company’s stock, valued at approximately $40,281,145.52. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of Cadence Design Systems stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total value of $401,100.00. Following the sale, the director directly owned 40,794 shares of the company’s stock, valued at approximately $13,089,978.72. The trade was a 2.97% decrease in their position. 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 7,221 shares of company stock valued at $2,570,606 in the last three months. 0.49% of the stock is currently owned by insiders.

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.