VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Cadence Design Systems, Inc. $CDNS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 75,843 shares of the software maker’s stock, valued at approximately $28,465,000.

A number of other hedge funds have also bought and sold shares of the business. Avalon Trust Co bought a new stake in Cadence Design Systems during the 2nd quarter valued at $30,000. Fiduciary Financial Advisors bought a new position in shares of Cadence Design Systems in the second quarter worth $31,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cadence Design Systems in the fourth quarter worth $28,000. Arlington Trust Co LLC grew its position in shares of Cadence Design Systems by 154.3% in the second quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Finally, Imprint Wealth LLC purchased a new position in shares of Cadence Design Systems in the third quarter valued at $31,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CDNS. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research note on Wednesday, May 27th. Oppenheimer restated a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $405.69.

Insiders Place Their Bets

In other news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the completion of the transaction, the director owned 40,794 shares of the company’s stock, valued at approximately $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the transaction, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% 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. Over the last three months, insiders sold 7,221 shares of company stock worth $2,570,606. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $292.70 on Tuesday. The stock has a market cap of $80.61 billion, a P/E ratio of 58.19, a PEG ratio of 3.14 and a beta of 1.14. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm’s fifty day moving average price is $339.97 and its 200-day moving average price is $334.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

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

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.