William Blair Investment Management LLC Acquires New Shares in Cadence Design Systems, Inc. $CDNS

William Blair Investment Management LLC bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 49,478 shares of the software maker’s stock, valued at approximately $18,570,000.

Several other hedge funds have also recently modified their holdings of the business. Whipplewood Advisors LLC boosted its position in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. raised its position 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 worth $27,000 after buying an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Cadence Design Systems in the 4th quarter worth about $28,000. Swiss RE Ltd. bought a new position in Cadence Design Systems during the 4th quarter valued at about $29,000. Finally, Avalon Trust Co purchased a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $319.02 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The stock has a market capitalization 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 firm’s 50 day moving average price is $353.70 and its 200-day moving average price is $331.25. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results 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 net margin of 23.60% and a return on equity of 27.98%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $1.65 earnings per share. The firm’s quarterly revenue 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. Equities research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a filing 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 Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the transaction, the vice president owned 124,586 shares in the company, valued at approximately $40,281,145.52. This trade represents a 1.58% 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 have sold 89,599 shares of company stock worth $35,710,627. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDNS. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Oppenheimer reiterated a “market perform” rating and set a $300.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup increased their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Stifel Nicolaus raised their price target on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

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.