Oak Associates Ltd. OH Makes New $7.11 Million Investment in Cadence Design Systems, Inc. $CDNS

Oak Associates Ltd. OH purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 25,584 shares of the software maker’s stock, valued at approximately $7,109,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. J. Stern & Co. LLP lifted its position in shares of Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of 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. Scge Management L.P. purchased a new position in shares of Cadence Design Systems in the second quarter valued at approximately $187,663,000. Finally, Temasek Holdings Private Ltd boosted its stake in shares of Cadence Design Systems by 319.5% in the first quarter. Temasek Holdings Private Ltd now owns 749,113 shares of the software maker’s stock valued at $208,156,000 after purchasing an additional 570,537 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Down 1.9%

Shares of Cadence Design Systems stock opened at $330.46 on Friday. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a 50 day moving average of $374.34 and a 200 day moving average of $329.29. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $91.15 billion, a P/E ratio of 77.03, a P/E/G ratio of 3.99 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $1.57 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 5,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total value of $1,743,550.00. Following the transaction, the chief financial officer owned 81,875 shares in the company, valued at approximately $28,550,631.25. This represents a 5.76% decrease in their position. 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, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the sale, the vice president directly owned 126,586 shares in the company, valued at $49,495,126. This trade represents a 1.56% 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 have sold a total of 157,057 shares of company stock valued at $60,272,277 over the last ninety days. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CDNS shares. KeyCorp upped their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Benchmark assumed coverage on shares of Cadence Design Systems in a research report on Wednesday, July 15th. They issued a “buy” rating and a $450.00 price target for the company. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Stifel Nicolaus increased their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $393.65.

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.