Flputnam Investment Management Co. Buys Shares of 5,297 Cadence Design Systems, Inc. $CDNS

Flputnam Investment Management Co. bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The firm bought 5,297 shares of the software maker’s stock, valued at approximately $1,988,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CDNS. Whipplewood Advisors LLC boosted its stake in Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Cadence Design Systems in the fourth quarter worth $28,000. Swiss RE Ltd. bought a new position in shares of Cadence Design Systems during the fourth quarter worth $29,000. Finally, Avalon Trust Co acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at $30,000. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, 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 transaction of $576,204.74. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This represents a 14.60% 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 have sold a total of 139,486 shares of company stock valued at $54,262,177 in the last three months. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Rosenblatt Securities raised their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Piper Sandler increased their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Stock Down 0.4%

NASDAQ:CDNS opened at $323.47 on Tuesday. The stock has a 50-day simple moving average of $359.31 and a 200 day simple moving average of $331.16. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a market cap of $89.08 billion, a PE ratio of 64.31, a PEG ratio of 3.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last released 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. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm 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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

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.