2,103 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Westpac Banking Corp

Westpac Banking Corp acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,103 shares of the software maker’s stock, valued at approximately $789,000.

A number of other institutional investors have also recently added to or reduced their stakes in CDNS. MUFG Securities EMEA plc raised its holdings in shares of Cadence Design Systems by 113.9% during the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after buying an additional 5,943 shares during the last quarter. Sun Financial Inc bought a new position in Cadence Design Systems in the 4th quarter worth approximately $1,225,000. Leonteq Securities AG bought a new position in Cadence Design Systems in the 4th quarter worth approximately $1,105,000. Indivisible Partners acquired a new stake in Cadence Design Systems in the 4th quarter valued at approximately $4,795,000. Finally, PNC Financial Services Group Inc. increased its position in Cadence Design Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock valued at $115,566,000 after acquiring an additional 3,562 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $319.02 on Friday. The stock has a market cap of $87.85 billion, a price-to-earnings ratio of 63.42, a PEG ratio of 3.42 and a beta of 1.15. 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 12 month low of $262.75 and a 12 month high of $416.69. The stock’s 50 day moving average price is $353.70 and its 200 day moving average price is $331.25.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company posted $1.65 EPS. The firm’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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president directly owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% 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. Over the last 90 days, insiders have sold 89,599 shares of company stock valued at $35,710,627. 0.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CDNS shares. Piper Sandler boosted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Rosenblatt Securities raised their price target on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Citigroup lifted their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $405.69.

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.