Van ECK Associates Corp Has $1.84 Billion Stock Position in Cadence Design Systems, Inc. $CDNS

Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 21.8% during the second quarter, HoldingsChannel.com reports. The firm owned 4,889,765 shares of the software maker’s stock after acquiring an additional 874,392 shares during the quarter. Cadence Design Systems makes up 1.2% of Van ECK Associates Corp’s portfolio, making the stock its 16th biggest position. Van ECK Associates Corp’s holdings in Cadence Design Systems were worth $1,835,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Avalon Trust Co acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $30,000. Fiduciary Financial Advisors acquired a new position in Cadence Design Systems in the second quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems in the fourth quarter valued at approximately $28,000. Arlington Trust Co LLC boosted its stake in Cadence Design Systems by 154.3% in the second quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock valued at $33,000 after acquiring an additional 54 shares during the last quarter. Finally, Imprint Wealth LLC bought a new position in Cadence Design Systems in the third quarter valued at approximately $31,000. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the transaction, the vice president directly owned 31,720 shares in the company, valued at approximately $10,753,080. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the transaction, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 91,129 shares of company stock worth $36,206,647 in the last three months. 0.49% of the stock is owned by insiders.

Cadence Design Systems Stock Down 2.1%

Shares of NASDAQ:CDNS opened at $340.39 on Friday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The company has a market capitalization of $93.74 billion, a PE ratio of 67.67, a PEG ratio of 3.73 and a beta of 1.15. The company has a 50 day moving average price of $348.17 and a two-hundred day moving average price of $333.27.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping 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 company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. 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. Analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent research reports. Citigroup upped 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. Piper Sandler raised 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. Bank of America lifted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Robert W. Baird increased their target price on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.69.

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.