Moore Capital Management LP Has $18.75 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Moore Capital Management LP grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 283.4% in the second quarter, HoldingsChannel reports. The fund owned 49,968 shares of the software maker’s stock after buying an additional 36,934 shares during the period. Moore Capital Management LP’s holdings in Cadence Design Systems were worth $18,754,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Cadence Design Systems during the 4th quarter worth $1,352,922,000. J. Stern & Co. LLP lifted its stake in Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth $702,615,000. Jupiter Topco LLC bought a new position in Cadence Design Systems in the second quarter valued at about $688,746,000. Finally, Wellington Management Group LLP raised its stake in Cadence Design Systems by 218.6% during the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after acquiring an additional 1,751,927 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of research analyst reports. Oppenheimer restated a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wells Fargo & Company raised their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Stifel Nicolaus lifted their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Bank of America raised their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Insider Activity

In other news, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total transaction of $94,920.00. Following the completion of the sale, the vice president owned 31,720 shares of the company’s stock, valued at $10,753,080. This trade represents a 0.88% 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 25,005 shares of Cadence Design Systems stock in a transaction on 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 completion of the sale, the chief executive officer owned 253,519 shares of the company’s stock, valued at $105,210,385. This represents a 8.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 32,226 shares of company stock worth $12,947,681. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $340.39 on Monday. The firm has a market cap of $93.74 billion, a PE ratio of 67.67, a price-to-earnings-growth ratio of 3.65 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $348.17 and a 200-day moving average price of $333.56. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. 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. As a group, equities research analysts expect 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.