MassMutual Private Wealth & Trust FSB Has $5.92 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

MassMutual Private Wealth & Trust FSB grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,784 shares of the software maker’s stock after acquiring an additional 2,245 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Cadence Design Systems were worth $5,924,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after purchasing an additional 307,753 shares during the last quarter. State Street Corp grew its position in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares in the last quarter. Geode Capital Management LLC increased its stake in Cadence Design Systems by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after buying an additional 92,152 shares during the last quarter. Norges Bank acquired a new stake in Cadence Design Systems in the 4th quarter valued at $1,352,922,000. Finally, Van ECK Associates Corp lifted its position in Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after buying an additional 376,654 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CDNS. Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities lifted their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Robert W. Baird raised their price target on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Stock Up 1.3%

CDNS opened at $340.62 on Wednesday. The stock’s fifty day simple moving average is $370.79 and its 200 day simple moving average is $330.33. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The stock has a market cap of $93.80 billion, a PE ratio of 67.72, a price-to-earnings-growth ratio of 3.61 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data 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 firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the business posted $1.65 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. 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, research analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were 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 approximately $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% 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. Insiders have sold a total of 140,557 shares of company stock worth $54,631,737 in the last quarter. 0.49% of the stock is owned by corporate insiders.

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.