Firetrail Investments PTY Ltd. Buys Shares of 29,116 Cadence Design Systems, Inc. $CDNS

Firetrail Investments PTY Ltd. bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 29,116 shares of the software maker’s stock, valued at approximately $10,862,000. Cadence Design Systems accounts for about 3.1% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC grew its stake in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. increased its holdings in Cadence Design Systems by 860.0% in the first 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. bought a new position in Cadence Design Systems during the fourth quarter valued at approximately $28,000. Swiss RE Ltd. bought a new position in Cadence Design Systems during the fourth quarter valued at approximately $29,000. Finally, Avalon Trust Co acquired a new stake in Cadence Design Systems in the second quarter valued at approximately $30,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the transaction, the chief executive officer owned 303,525 shares of the company’s stock, valued at $112,304,250. This represents a 14.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the transaction, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This trade represents a 18.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 139,486 shares of company stock valued at $54,262,177. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $324.82 on Monday. 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 firm has a market capitalization of $89.45 billion, a price-to-earnings ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. The company’s fifty day moving average is $360.72 and its two-hundred day moving average is $331.12. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The business’s 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 forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CDNS. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler raised their price target 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. Weiss Ratings raised shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Finally, KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus 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.