Cadence Design Systems, Inc. $CDNS Shares Purchased by Range Advisory LLC

Range Advisory LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,791 shares of the software maker’s stock after purchasing an additional 1,956 shares during the quarter. Range Advisory LLC’s holdings in Cadence Design Systems were worth $3,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Cadence Design Systems by 37,856.6% in the 2nd quarter. California State Teachers Retirement System now owns 154,968,502 shares of the software maker’s stock worth $58,162,778,000 after acquiring an additional 154,560,224 shares during the period. State Street Corp boosted its position in Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares in the last quarter. Geode Capital Management LLC boosted its position in Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after purchasing an additional 92,152 shares in the last quarter. Van ECK Associates Corp grew its holdings in Cadence Design Systems by 21.8% in the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after purchasing an additional 874,392 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cadence Design Systems in the fourth quarter valued at $1,352,922,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CDNS shares. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Bank of America raised their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company upped their price target 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. Weiss Ratings upgraded shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Oppenheimer reissued 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. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the sale, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total value of $401,100.00. Following the completion of the transaction, the director owned 40,794 shares of the company’s stock, valued at $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,221 shares of company stock worth $2,570,606. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $292.70 on Tuesday. The stock has a market capitalization of $80.61 billion, a P/E ratio of 58.19, a P/E/G ratio of 3.14 and a beta of 1.14. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The firm’s 50-day moving average is $339.97 and its two-hundred day moving average is $334.12.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. The company’s revenue 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. Equities analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Cadence Design Systems Company 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.