Summit Global Investments Has $642,000 Holdings in Cadence Design Systems, Inc. $CDNS

Summit Global Investments lessened its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 51.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,312 shares of the software maker’s stock after selling 2,422 shares during the quarter. Summit Global Investments’ holdings in Cadence Design Systems were worth $642,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDNS. MUFG Securities EMEA plc boosted its holdings in shares of Cadence Design Systems by 113.9% during the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after purchasing an additional 5,943 shares during the period. Sun Financial Inc acquired a new position in Cadence Design Systems in the 4th quarter valued at approximately $1,225,000. DDD Partners LLC lifted its position in Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock worth $13,118,000 after buying an additional 9,024 shares in the last quarter. Leonteq Securities AG purchased a new stake in Cadence Design Systems in the 4th quarter worth approximately $1,105,000. Finally, Indivisible Partners acquired a new stake in shares of Cadence Design Systems during the 4th quarter valued at $4,795,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $337.01 on Thursday. The firm has a 50 day moving average of $374.79 and a two-hundred day moving average of $329.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company has a market capitalization of $92.95 billion, a price-to-earnings ratio of 78.56, a P/E/G ratio of 4.08 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $1.57 EPS. Cadence Design Systems’s revenue for the quarter was up 18.6% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CDNS shares. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Thursday, July 2nd. KeyCorp increased their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Robert W. Baird lifted their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Benchmark began coverage on Cadence Design Systems in a research report on Wednesday, July 15th. They issued a “buy” rating and a $450.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total value of $1,743,550.00. Following the transaction, the chief financial officer directly owned 81,875 shares of the company’s stock, valued at approximately $28,550,631.25. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the sale, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This trade represents a 14.60% 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. Over the last quarter, insiders sold 157,057 shares of company stock valued at $60,272,277. 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.