Northwestern Mutual Wealth Management Co. Takes $7.33 Million Position in Cadence Design Systems, Inc. $CDNS

Northwestern Mutual Wealth Management Co. acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The fund acquired 19,533 shares of the software maker’s stock, valued at approximately $7,331,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cadence Design Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after buying an additional 307,753 shares during the last quarter. State Street Corp lifted its position in Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after buying an additional 92,152 shares during the last quarter. Norges Bank acquired a new position in shares of Cadence Design Systems during the 4th quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after acquiring an additional 376,654 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In related 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 transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This trade represents a 2.20% decrease in their position. 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 90 days, insiders sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $319.02 on Monday. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The company has a market capitalization of $87.85 billion, a P/E ratio of 63.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15. The company has a 50-day simple moving average of $353.70 and a 200 day simple moving average of $331.55.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. 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. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Bank of America boosted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Oppenheimer reissued a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $405.69.

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.