VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 75,843 Cadence Design Systems, Inc. $CDNS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 75,843 shares of the software maker’s stock, valued at approximately $28,465,000.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its holdings in 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 during the last quarter. Brown Lisle Cummings Inc. increased its stake in Cadence Design Systems by 860.0% in the 1st 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 during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Cadence Design Systems in the 4th quarter valued at about $28,000. Swiss RE Ltd. bought a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $30,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

CDNS opened at $292.70 on Tuesday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company’s 50-day moving average price is $339.97 and its two-hundred day moving average price is $334.12. The stock has a market cap of $80.61 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 3.14 and a beta of 1.14. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly 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. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business posted $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, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CDNS shares. Morgan Stanley restated an “overweight” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Stifel Nicolaus boosted their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total value of $401,100.00. Following the completion of the sale, the director directly owned 40,794 shares of the company’s stock, valued at $13,089,978.72. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were 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 owned 31,720 shares in the company, valued at approximately $10,753,080. The trade was a 0.88% 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 sold 7,221 shares of company stock valued at $2,570,606 in the last quarter. Insiders own 0.49% of the company’s stock.

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.