Commerzbank Aktiengesellschaft FI Acquires New Position in Cadence Design Systems, Inc. $CDNS

Commerzbank Aktiengesellschaft FI bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The firm bought 1,957 shares of the software maker’s stock, valued at approximately $735,000.

Several other hedge funds have also made changes to their positions in CDNS. Phillips Wealth Planners LLC purchased a new position in Cadence Design Systems during the second quarter worth about $225,000. Trust Co. of Vermont acquired a new position in shares of Cadence Design Systems during the 2nd quarter valued at about $105,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cadence Design Systems during the 2nd quarter valued at about $292,890,000. Persistent Asset Partners Ltd purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth about $4,170,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth about $486,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the company’s stock in a transaction dated 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. The trade was a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,486 shares of company stock worth $54,262,177 over the last three months. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Piper Sandler boosted their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research report 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $316.52 on Wednesday. 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 company has a market capitalization 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 business has a 50-day moving average of $357.82 and a 200-day moving average of $331.13.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $1.65 EPS. Cadence Design Systems’s revenue for the quarter 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. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Cadence Design Systems 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.