Persistent Asset Partners Ltd Takes $4.17 Million Position in Cadence Design Systems, Inc. $CDNS

Persistent Asset Partners Ltd bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel reports. The firm bought 11,111 shares of the software maker’s stock, valued at approximately $4,170,000. Cadence Design Systems makes up about 1.2% of Persistent Asset Partners Ltd’s portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after acquiring an additional 307,753 shares during the period. State Street Corp grew its stake in shares of Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares during the period. Geode Capital Management LLC grew its stake in shares of Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after purchasing an additional 92,152 shares during the period. Norges Bank purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at approximately $1,352,922,000. Finally, Van ECK Associates Corp increased its holdings in shares of Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after purchasing an additional 376,654 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. 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 report on Tuesday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Oppenheimer reiterated a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler increased their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company raised their target price 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the transaction, the vice president directly owned 32,181 shares in the company, valued at $12,676,417.71. This represents a 18.04% 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. Over the last ninety days, insiders have sold 139,486 shares of company stock valued at $54,262,177. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $324.82 on Monday. The stock has a market capitalization of $89.45 billion, a P/E ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. The company’s fifty day moving average price is $360.72 and its 200 day moving average price is $331.12. 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, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data 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 company 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 firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the business posted $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. As a group, equities research analysts anticipate 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.