9,351 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,351 shares of the software maker’s stock, valued at approximately $3,510,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. MUFG Securities EMEA plc increased its holdings in shares of Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after acquiring an additional 5,943 shares during the period. Sun Financial Inc bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $1,225,000. Leonteq Securities AG acquired a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $1,105,000. PNC Financial Services Group Inc. grew its holdings in Cadence Design Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock worth $115,566,000 after buying an additional 3,562 shares in the last quarter. Finally, Indivisible Partners bought a new stake in Cadence Design Systems during the 4th quarter valued at $4,795,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Paul Scannell sold 7,081 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was 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 in the company, valued at $12,676,417.71. This represents a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the sale, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This represents a 14.60% 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 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 Trading Down 2.1%

NASDAQ CDNS opened at $316.52 on Wednesday. The stock has a market cap of $87.17 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 3.49 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month 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 firm’s 50 day moving average price is $357.82 and its two-hundred day moving average price is $331.13.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the company posted $1.65 earnings per share. 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 analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on CDNS shares. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Oppenheimer restated a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Robert W. Baird boosted their target price 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, 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. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $405.69.

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.