88,620 Shares in Cadence Design Systems, Inc. $CDNS Bought by Trillium Asset Management LLC

Trillium Asset Management LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 88,620 shares of the software maker’s stock, valued at approximately $33,262,000. Cadence Design Systems makes up about 1.0% of Trillium Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other large investors have also recently bought and sold shares of CDNS. Brighton Jones LLC raised its stake in shares of Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. bought a new stake in shares of Cadence Design Systems in the second quarter worth $205,000. NewEdge Advisors LLC grew its stake in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Glenview Trust co acquired a new stake in Cadence Design Systems in the second quarter valued at $226,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDNS. Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Piper Sandler raised their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Performance

CDNS stock opened at $313.59 on Friday. The firm has a market cap of $86.36 billion, a PE ratio of 62.34, a price-to-earnings-growth ratio of 3.38 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $355.01 and a 200-day moving average price of $331.34. 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 announced its 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. 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 expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 51,822 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $395.00, for a total transaction of $20,469,690.00. Following the transaction, the chief executive officer owned 278,524 shares of the company’s stock, valued at $110,016,980. This represents a 15.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 89,599 shares of company stock worth $35,710,627 over the last ninety days. 0.49% of the stock is owned by corporate 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.