Handelsbanken Fonder AB Acquires 41,693 Shares of Cadence Design Systems, Inc. $CDNS

Handelsbanken Fonder AB raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 30.9% in the second quarter, Holdings Channel.com reports. The firm owned 176,771 shares of the software maker’s stock after purchasing an additional 41,693 shares during the period. Handelsbanken Fonder AB’s holdings in Cadence Design Systems were worth $66,346,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CDNS. MUFG Securities EMEA plc increased its holdings in shares of Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Sun Financial Inc purchased a new stake in Cadence Design Systems in the fourth quarter worth approximately $1,225,000. Leonteq Securities AG purchased a new stake in Cadence Design Systems in the fourth quarter worth approximately $1,105,000. PNC Financial Services Group Inc. grew 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 worth $115,566,000 after purchasing an additional 3,562 shares during the period. Finally, Indivisible Partners purchased a new stake in Cadence Design Systems during the 4th quarter valued at $4,795,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 2.2%

Shares of NASDAQ CDNS opened at $331.91 on Tuesday. 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 quick ratio of 1.53 and a current ratio of 1.74. The company has a market cap of $91.40 billion, a price-to-earnings ratio of 65.99, a PEG ratio of 3.64 and a beta of 1.15. The business’s 50 day moving average price is $366.99 and its 200-day moving average price is $330.93.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.Cadence Design Systems’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Activity

In related news, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the transaction, the vice president owned 126,586 shares of the company’s stock, valued at $49,495,126. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares of the company’s stock, valued at $105,210,385. The trade was a 8.98% 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. In the last three months, insiders sold 140,557 shares of company stock valued at $54,631,737. Insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CDNS shares. Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Bank of America increased their target price 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, Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.