237,878 Shares in Cadence Design Systems, Inc. $CDNS Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 237,878 shares of the software maker’s stock, valued at approximately $89,280,000. The Manufacturers Life Insurance Company owned approximately 0.09% of Cadence Design Systems at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its holdings in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares during the period. Brown Lisle Cummings Inc. increased its stake in Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in Cadence Design Systems in the fourth quarter valued at about $28,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems in the fourth quarter worth about $29,000. Finally, Avalon Trust Co bought a new position in Cadence Design Systems during the second quarter worth about $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $331.90 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The firm has a market cap of $91.40 billion, a PE ratio of 65.98, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company’s 50-day moving average price is $351.00 and its two-hundred day moving average price is $332.31.

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 the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $1.65 earnings per share. The company’s revenue was up 24.2% on a year-over-year basis. 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 anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent research reports. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rosenblatt Securities raised their target price on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Piper Sandler increased their price objective 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. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the transaction, the vice president owned 124,586 shares of the company’s stock, valued at approximately $40,281,145.52. The trade was a 1.58% 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. Over the last three months, insiders sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is currently owned by insiders.

About Cadence Design Systems

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.