Range Advisory LLC Boosts Position in Cadence Design Systems, Inc. $CDNS

Range Advisory LLC boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,791 shares of the software maker’s stock after purchasing an additional 1,956 shares during the quarter. Range Advisory LLC’s holdings in Cadence Design Systems were worth $3,675,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in shares of Cadence Design Systems by 37,856.6% in the 2nd quarter. California State Teachers Retirement System now owns 154,968,502 shares of the software maker’s stock valued at $58,162,778,000 after buying an additional 154,560,224 shares during the last quarter. State Street Corp lifted its position in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after acquiring an additional 135,206 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after acquiring an additional 92,152 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 21.8% during the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock worth $1,835,227,000 after purchasing an additional 874,392 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Cadence Design Systems during the fourth quarter worth about $1,352,922,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on CDNS shares. Citigroup boosted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Rosenblatt Securities boosted their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the sale, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed 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 Cunningham sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the sale, the vice president directly owned 124,586 shares of the company’s stock, valued at $40,281,145.52. This represents a 1.58% decrease in their ownership of the stock. 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 quarter, insiders have sold 7,221 shares of company stock valued at $2,570,606. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $292.70 on Tuesday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month 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. The business has a 50 day simple moving average of $339.97 and a 200-day simple moving average of $334.12. The stock has a market capitalization of $80.61 billion, a PE ratio of 58.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for 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% on a year-over-year basis. During the same period last year, the firm 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. Equities analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Cadence Design Systems 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.