1,986 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Clearstead Trust LLC

Clearstead Trust LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,986 shares of the software maker’s stock, valued at approximately $745,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC increased its stake in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. boosted its stake in Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems during the fourth quarter worth $28,000. Swiss RE Ltd. acquired a new stake in Cadence Design Systems in the fourth quarter worth $29,000. Finally, Imprint Wealth LLC acquired a new stake in Cadence Design Systems in the third quarter worth $31,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

CDNS opened at $324.82 on Friday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a market cap of $89.45 billion, a price-to-earnings ratio of 64.58, a PEG ratio of 3.49 and a beta of 1.15. The company’s fifty day moving average price is $360.72 and its two-hundred day moving average price is $331.06. 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 issued 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 firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business’s revenue was up 24.2% on a year-over-year basis. During the same period last 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. On average, analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Analyst Ratings Changes

CDNS has been the topic of several research reports. Bank of America upped their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Oppenheimer reaffirmed a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler upped their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Citigroup increased their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Activity

In other news, Director James D. Plummer sold 1,511 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. 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 140,557 shares of company stock worth $54,631,737. Company insiders own 0.49% of the company’s stock.

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.