OMERS ADMINISTRATION Corp Makes New Investment in Cadence Design Systems, Inc. $CDNS

OMERS ADMINISTRATION Corp purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,237 shares of the software maker’s stock, valued at approximately $5,343,000.

Several other institutional investors and hedge funds have also modified their holdings of CDNS. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Cadence Design Systems by 3.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after purchasing an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at $205,000. NewEdge Advisors LLC lifted its stake in shares of Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co purchased a new stake in Cadence Design Systems during the second quarter worth $226,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CDNS shares. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Rosenblatt Securities upped their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their price target 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, Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $405.69.

Cadence Design Systems Stock Performance

CDNS opened at $315.92 on Tuesday. 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 cap of $87.00 billion, a price-to-earnings ratio of 62.81, a PEG ratio of 3.42 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. The firm’s fifty day simple moving average is $352.12 and its two-hundred day simple moving average is $331.88.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company’s quarterly 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. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 Cadence Design Systems 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 directly owned 124,586 shares in the company, valued at $40,281,145.52. This 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 89,599 shares of company stock worth $35,710,627 in the last quarter. 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.