Rakuten Investment Management Inc. Buys New Shares in Cadence Design Systems, Inc. $CDNS

Rakuten Investment Management Inc. acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 66,470 shares of the software maker’s stock, valued at approximately $24,775,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $1,352,922,000. J. Stern & Co. LLP boosted its stake in shares of Cadence Design Systems by 10,159.3% in 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 purchasing an additional 2,924,470 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $702,615,000. Jupiter Topco LLC bought a new position in shares of Cadence Design Systems during the 2nd quarter valued at $688,746,000. Finally, Wellington Management Group LLP grew its holdings in shares of Cadence Design Systems by 218.6% during 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 purchasing an additional 1,751,927 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Oppenheimer reissued a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $340.39 on Friday. 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 company has a 50-day moving average price of $348.17 and a 200-day moving average price of $333.27. The company has a market cap of $93.74 billion, a price-to-earnings ratio of 67.67, a price-to-earnings-growth ratio of 3.73 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.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.58 billion. During the same period last year, the firm earned $1.65 earnings per share. Cadence Design Systems’s quarterly 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. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company’s stock, valued at $10,753,080. The trade was a 0.88% 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 quarter, insiders sold 91,129 shares of company stock worth $36,206,647. Corporate insiders own 0.49% of the company’s stock.

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.