M.D. Sass LLC Makes New $4.84 Million Investment in Cadence Design Systems, Inc. $CDNS

M.D. Sass LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 12,887 shares of the software maker’s stock, valued at approximately $4,837,000. Cadence Design Systems comprises approximately 0.3% of M.D. Sass LLC’s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after buying an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Cadence Design Systems by 3.8% in 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 during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in Cadence Design Systems during the 2nd quarter worth $205,000. NewEdge Advisors LLC grew its position in Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Glenview Trust co purchased a new position in Cadence Design Systems during the 2nd quarter worth $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Down 2.1%

Shares of NASDAQ:CDNS opened at $316.52 on Wednesday. The company has a market cap of $87.17 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 3.49 and a beta of 1.15. The firm’s 50-day simple moving average is $357.82 and its 200-day simple moving average is $331.13. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. 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 posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. 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. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction that occurred on 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. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction 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 in the company, valued at $8,871,493.76. This represents a 6.10% 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. In the last quarter, insiders sold 139,486 shares of company stock worth $54,262,177. 0.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CDNS shares. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Citigroup raised their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Oppenheimer reaffirmed a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $405.69.

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.