Great Lakes Advisors LLC Buys Shares of 11,703 Cadence Design Systems, Inc. $CDNS

Great Lakes Advisors LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, HoldingsChannel reports. The fund bought 11,703 shares of the software maker’s stock, valued at approximately $4,392,000.

Several other large investors also recently made changes to their positions in CDNS. Danske Bank A S acquired a new position in shares of Cadence Design Systems during the second quarter worth approximately $50,000. Diversify Advisory Services LLC acquired a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $2,738,000. Oxbow Advisors LLC acquired a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $3,897,000. Wealthfront Advisers LLC bought a new stake in Cadence Design Systems during the 2nd quarter valued at $12,772,000. Finally, M.D. Sass LLC bought a new stake in Cadence Design Systems during the 2nd quarter valued at $4,837,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $314.98 on Thursday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm has a market cap of $86.74 billion, a P/E ratio of 62.62, a PEG ratio of 3.40 and a beta of 1.15. The stock has a fifty day moving average price of $356.42 and a two-hundred day moving average price of $331.22. 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 posted 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. 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 company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 EPS. 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on CDNS. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Piper Sandler lifted 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. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Bank of America increased their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $405.69.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the sale, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. The trade was a 6.10% 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 sold 141,486 shares of company stock valued at $54,908,817 in the last quarter. 0.49% of the stock is owned by company insiders.

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.