Ieq Capital LLC Acquires New Stake in Cadence Design Systems, Inc. $CDNS

Ieq Capital LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 30,459 shares of the software maker’s stock, valued at approximately $11,432,000.

A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings 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 in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Cadence Design Systems by 3.8% in the 1st 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 in the last quarter. Thompson Davis & CO. Inc. bought a new position in Cadence Design Systems in the 2nd quarter worth about $205,000. NewEdge Advisors LLC grew its position in Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Glenview Trust co purchased a new stake in Cadence Design Systems during the 2nd quarter valued at about $226,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Up 1.7%

NASDAQ:CDNS opened at $319.02 on Friday. The company has a market cap of $87.85 billion, a PE ratio of 63.42, a price-to-earnings-growth ratio of 3.42 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 company has a 50 day simple moving average of $353.70 and a two-hundred day simple moving average of $331.25. 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 released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Morgan Stanley reaffirmed 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. The trade was a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at $12,676,417.71. The trade was a 18.04% 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. Insiders have sold 89,599 shares of company stock valued at $35,710,627 in the last 90 days. 0.49% of the stock is owned by company insiders.

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.