Ieq Capital LLC Invests $11.43 Million in Cadence Design Systems, Inc. $CDNS

Ieq Capital LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,459 shares of the software maker’s stock, valued at approximately $11,432,000.

A number of other hedge funds also recently bought and sold shares of CDNS. Pinnacle Wealth Management Advisory Group LLC raised its position in Cadence Design Systems by 3.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after purchasing an additional 31 shares during the last quarter. Westfuller Advisors LLC grew its position in shares of Cadence Design Systems by 8.2% in the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after buying an additional 31 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Cadence Design Systems by 32.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after buying an additional 32 shares during the last quarter. KCM Investment Advisors LLC increased its stake in shares of Cadence Design Systems by 0.4% during the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after buying an additional 32 shares during the period. Finally, Fulton Bank N.A. raised its holdings in shares of Cadence Design Systems by 2.6% during the second quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker’s stock valued at $486,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems 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 completion of the transaction, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This trade represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director directly owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Stifel Nicolaus lifted their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Bank of America boosted their price target 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. Finally, Robert W. Baird increased their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Cadence Design Systems Trading Up 1.7%

NASDAQ CDNS opened at $319.02 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The firm has a market capitalization of $87.85 billion, a PE ratio of 63.42, a P/E/G ratio of 3.42 and a beta of 1.15. The stock’s 50 day moving average is $353.70 and its 200 day moving average is $331.25.

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, topping analysts’ consensus estimates of $2.05 by $0.06. The business 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 firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal 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.