Summit Global Investments Acquires Shares of 2,291 Cadence Design Systems, Inc. $CDNS

Summit Global Investments acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,291 shares of the software maker’s stock, valued at approximately $860,000.

Several other hedge funds have also modified their holdings of CDNS. Norges Bank acquired a new position in Cadence Design Systems in the 4th quarter worth about $1,352,922,000. J. Stern & Co. LLP grew its holdings in Cadence Design Systems by 10,159.3% in the fourth 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 during the period. Wellington Management Group LLP grew its holdings in Cadence Design Systems by 218.6% in the fourth 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 period. Arrowstreet Capital Limited Partnership increased its position in shares of Cadence Design Systems by 232.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker’s stock valued at $397,521,000 after buying an additional 999,862 shares in the last quarter. Finally, Scge Management L.P. purchased a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $187,663,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDNS. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. Citigroup boosted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Piper Sandler increased their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Thirteen equities research 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, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the transaction, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This represents a 8.98% 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. Over the last three months, insiders have sold 140,557 shares of company stock valued at $54,631,737. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $324.82 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm has a market capitalization of $89.45 billion, a PE ratio of 64.58, a P/E/G ratio of 3.47 and a beta of 1.15. The business’s 50 day moving average price is $360.72 and its 200-day moving average price is $331.06.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company 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. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal 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.