11,111 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,111 shares of the software maker’s stock, valued at approximately $4,170,000. Cadence Design Systems comprises approximately 1.2% of Persistent Asset Partners Ltd’s portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of CDNS. Brighton Jones LLC grew its stake in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in 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 buying an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in Cadence Design Systems in the second quarter valued at about $205,000. NewEdge Advisors LLC raised its stake in Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co acquired a new stake in Cadence Design Systems in the second quarter worth about $226,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CDNS. Piper Sandler boosted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Finally, Citigroup upped their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $405.69.

Insider Buying and Selling

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the transaction, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their position. The transaction was disclosed in a 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 Cadence Design Systems stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. The trade was a 1.56% 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 139,486 shares of company stock worth $54,262,177 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $324.82 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The business’s 50-day simple moving average is $360.72 and its two-hundred day simple moving average is $331.12. The company has a market cap of $89.45 billion, a PE ratio of 64.58, a PEG ratio of 3.49 and a beta of 1.15. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company earned $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. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Cadence Design Systems Company 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.