Cadence Design Systems, Inc. $CDNS Shares Sold by Formuepleje A S

Formuepleje A S cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 68.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,885 shares of the software maker’s stock after selling 14,682 shares during the period. Formuepleje A S’s holdings in Cadence Design Systems were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its holdings in shares of Cadence Design Systems by 32.6% during the second quarter. HighTower Advisors LLC now owns 75,861 shares of the software maker’s stock worth $28,472,000 after purchasing an additional 18,664 shares during the period. Kingsbury Capital Investment Advisors LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $236,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $28,465,000. Vancity Investment Management Ltd acquired a new stake in Cadence Design Systems during the second quarter worth about $269,000. Finally, California State Teachers Retirement System lifted its holdings in Cadence Design Systems by 37,856.6% in the second 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 last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CDNS shares. Morgan Stanley restated an “overweight” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Bank of America boosted their price objective on 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, Piper Sandler upped their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $292.70 on Monday. The stock has a market cap of $80.61 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 3.14 and a beta of 1.14. 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 $341.57 and its 200 day moving average price is $334.06.

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. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the company posted $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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, Director James Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director owned 23,264 shares of the company’s stock, valued at $8,871,493.76. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the completion of the sale, the director owned 40,794 shares in the company, valued at $13,089,978.72. The trade was a 2.97% 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 7,221 shares of company stock valued at $2,570,606 in the last quarter. 0.49% of the stock is owned by company insiders.

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.