Saranac Partners Ltd Purchases Shares of 12,345 Cadence Design Systems, Inc. $CDNS

Saranac Partners Ltd bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,345 shares of the software maker’s stock, valued at approximately $4,629,000. Cadence Design Systems accounts for 1.4% of Saranac Partners Ltd’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its stake in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of 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 buying an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems during the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co purchased a new position in Cadence Design Systems in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $319.02 on Monday. The company has a market capitalization of $87.85 billion, a price-to-earnings ratio of 63.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15. 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, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company’s fifty day moving average price is $353.70 and its two-hundred day moving average price is $331.55.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results 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. The company had revenue of $1.58 billion during 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%. The company’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm 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. As a group, research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James D. Plummer sold 1,511 shares of the business’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 of the company’s stock, valued at $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing 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, CEO Anirudh Devgan sold 51,822 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $395.00, for a total value of $20,469,690.00. Following the sale, the chief executive officer owned 278,524 shares in the company, valued at $110,016,980. The trade was a 15.69% decrease in their position. 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. In the last ninety days, insiders sold 89,599 shares of company stock valued at $35,710,627. 0.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CDNS shares. Bank of America lifted their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Piper Sandler lifted their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cadence Design Systems presently has an average 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.