Cadence Design Systems, Inc. $CDNS Shares Sold by Carderock Capital Management Inc.

Carderock Capital Management Inc. decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,899 shares of the software maker’s stock after selling 2,409 shares during the quarter. Cadence Design Systems accounts for about 2.1% of Carderock Capital Management Inc.’s holdings, making the stock its 20th largest holding. Carderock Capital Management Inc.’s holdings in Cadence Design Systems were worth $9,345,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $1,352,922,000. J. Stern & Co. LLP lifted its position in shares of Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after buying an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP grew its stake in Cadence Design Systems by 218.6% in the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after acquiring an additional 1,751,927 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Cadence Design Systems by 232.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker’s stock worth $397,521,000 after acquiring an additional 999,862 shares in the last quarter. Finally, Scge Management L.P. purchased a new stake in Cadence Design Systems in the 2nd quarter worth $187,663,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. The trade was a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 transaction of $782,000.00. Following the transaction, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. The trade was a 1.56% 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 ninety days, insiders sold 140,557 shares of company stock worth $54,631,737. 0.49% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Up 1.3%

CDNS opened at $340.62 on Wednesday. The firm has a market capitalization of $93.80 billion, a price-to-earnings ratio of 67.72, a price-to-earnings-growth ratio of 3.61 and a beta of 1.15. The company’s 50 day simple moving average is $370.79 and its two-hundred day simple moving average is $330.33. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The business’s revenue for the quarter 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. Analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on CDNS shares. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Company 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.