Arizona State Retirement System Purchases 2,032 Shares of Cadence Design Systems, Inc. $CDNS

Arizona State Retirement System grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.7% in the second quarter, HoldingsChannel reports. The fund owned 76,610 shares of the software maker’s stock after acquiring an additional 2,032 shares during the period. Arizona State Retirement System’s holdings in Cadence Design Systems were worth $28,753,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. California State Teachers Retirement System grew its stake in shares of 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 valued at $58,162,778,000 after buying an additional 154,560,224 shares in the last quarter. Norges Bank acquired a new position in shares of Cadence Design Systems in the fourth quarter valued at approximately $1,352,922,000. J. Stern & Co. LLP increased its position in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after buying an additional 2,924,470 shares during the period. Legal & General Group Plc bought a new position in Cadence Design Systems during the second quarter worth about $702,615,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $688,746,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In related news, Director James 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 transaction of $576,204.74. Following the transaction, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the transaction, the vice president owned 31,720 shares in the company, valued at $10,753,080. The trade was a 0.88% decrease in their position. 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 over the last three months. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Weiss Ratings upgraded Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Oppenheimer restated a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $405.69.

Cadence Design Systems Stock Down 2.9%

NASDAQ CDNS traded down $8.59 during mid-day trading on Tuesday, hitting $284.11. The company’s stock had a trading volume of 4,401,634 shares, compared to its average volume of 2,454,075. The firm has a market capitalization of $78.24 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.14 and a beta of 1.14. The company’s 50 day simple moving average is $339.97 and its 200 day simple moving average is $334.12. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last posted its 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. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

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.