Danske Bank A S Takes $57.03 Million Position in Cadence Design Systems, Inc. $CDNS

Danske Bank A S purchased a new position 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 (SEC). The institutional investor purchased 151,964 shares of the software maker’s stock, valued at approximately $57,035,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cadence Design Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after buying an additional 307,753 shares during the period. State Street Corp increased its stake in Cadence Design Systems by 1.1% in the 4th 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 last quarter. Geode Capital Management LLC increased its stake in Cadence Design Systems by 1.2% in the 4th 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 last quarter. Norges Bank purchased a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. Finally, Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems by 11.9% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $316.52 on Wednesday. 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 stock has a market cap of $87.17 billion, a PE ratio of 62.93, a PEG ratio of 3.49 and a beta of 1.15. The company’s fifty day moving average is $357.82 and its 200 day moving average is $331.13. 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 posted its quarterly 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $1.65 earnings per share. 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. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the sale, the vice president owned 126,586 shares of the company’s stock, valued at $49,495,126. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,486 shares of company stock worth $54,262,177 in the last 90 days. 0.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Bank of America lifted their price target 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. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Finally, Piper Sandler boosted their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

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.