Johnson Financial Group Inc. Takes $754,000 Position in Cadence Design Systems, Inc. $CDNS

Johnson Financial Group Inc. purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,008 shares of the software maker’s stock, valued at approximately $754,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after purchasing an additional 307,753 shares during the last quarter. State Street Corp grew its position in shares of Cadence Design Systems by 1.1% during the 4th 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 grew 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 buying an additional 92,152 shares in the last quarter. Norges Bank acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth $1,352,922,000. Finally, Van ECK Associates Corp grew its stake in Cadence Design Systems by 11.9% during the fourth 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 and hedge funds.

Cadence Design Systems Trading Down 0.5%

CDNS opened at $314.98 on Thursday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week 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 company’s 50-day moving average is $356.42 and its 200 day moving average is $331.22. The firm has a market capitalization of $86.74 billion, a PE ratio of 62.62, a P/E/G ratio of 3.40 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Cadence Design Systems’s quarterly 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. As a group, research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CDNS shares. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated 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 directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a 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, CEO Anirudh Devgan sold 51,887 shares of the business’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 owned 303,525 shares in the company, valued at approximately $112,304,250. The trade was a 14.60% 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 90 days, insiders have sold 141,486 shares of company stock worth $54,908,817. Corporate insiders own 0.49% of the company’s stock.

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.