Diversify Advisory Services LLC Takes Position in Cadence Design Systems, Inc. $CDNS

Diversify Advisory Services LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, Holdings Channel reports. The institutional investor acquired 8,085 shares of the software maker’s stock, valued at approximately $2,738,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Oxbow Advisors LLC bought a new stake in Cadence Design Systems in the second quarter valued at approximately $3,897,000. Wealthfront Advisers LLC bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $12,772,000. M.D. Sass LLC bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $4,837,000. JLB & Associates Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $507,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $3,510,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $316.52 on Wednesday. The firm has a 50 day moving average of $357.82 and a 200-day moving average of $331.13. The company has a market cap of $87.17 billion, a price-to-earnings ratio of 62.93, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15. 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 52 week low of $262.75 and a 52 week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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, equities analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, Director James D. Plummer sold 1,511 shares of the firm’s stock in a transaction dated 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 in the company, valued at $8,871,493.76. This trade represents a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the sale, the vice president directly owned 126,586 shares of the company’s stock, valued at $49,495,126. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 139,486 shares of company stock valued at $54,262,177. 0.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDNS. Weiss Ratings upgraded shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Piper Sandler boosted their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. Finally, Bank of America lifted 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 research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

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.