National Pension Service Raises Stock Position in Cadence Design Systems, Inc. $CDNS

National Pension Service lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 760,715 shares of the software maker’s stock after buying an additional 6,755 shares during the period. National Pension Service’s holdings in Cadence Design Systems were worth $285,512,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Cadence Design Systems by 22.0% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,260 shares of the software maker’s stock valued at $473,000 after acquiring an additional 227 shares during the last quarter. NorthRock Partners LLC raised its position in Cadence Design Systems by 8.6% during the second quarter. NorthRock Partners LLC now owns 1,807 shares of the software maker’s stock valued at $678,000 after purchasing an additional 143 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Cadence Design Systems by 1,447.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 92,099 shares of the software maker’s stock valued at $34,567,000 after purchasing an additional 86,148 shares during the last quarter. RFG Advisory LLC purchased a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $295,000. Finally, Baird Financial Group Inc. increased its position in shares of Cadence Design Systems by 9.8% during the 2nd quarter. Baird Financial Group Inc. now owns 57,702 shares of the software maker’s stock valued at $21,657,000 after purchasing an additional 5,139 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $284.60 on Thursday. The stock has a market cap of $78.38 billion, a price-to-earnings ratio of 56.58, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm has a 50-day moving average of $336.28 and a two-hundred day moving average of $333.89.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 EPS. 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, research analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of Cadence Design Systems stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total value of $401,100.00. Following the transaction, the director directly owned 40,794 shares in the company, valued at approximately $13,089,978.72. This trade represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the transaction, the vice president directly owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. The trade was a 0.88% 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 have sold a total of 5,530 shares of company stock valued at $1,924,660 over the last ninety days. 0.49% of the stock is owned by company insiders.

Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research report on Wednesday, May 27th. Citigroup lifted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Bank of America boosted their target price 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. Finally, KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.