Sumitomo Life Insurance Co. Invests $11.65 Million in Cadence Design Systems, Inc. $CDNS

Sumitomo Life Insurance Co. purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 31,046 shares of the software maker’s stock, valued at approximately $11,652,000.

Several other institutional investors have also recently added to or reduced their stakes in CDNS. Norges Bank bought a new position in Cadence Design Systems during the 4th quarter valued at $1,352,922,000. J. Stern & Co. LLP increased its position in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Cadence Design Systems by 218.6% in the 4th 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $607,350,000. Finally, Deutsche Bank AG bought a new position in shares of Cadence Design Systems during the second quarter worth about $532,338,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CDNS shares. Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Robert W. Baird upped their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a report on Wednesday, May 27th. Weiss Ratings upgraded Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Benchmark reiterated a “buy” rating 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 given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,822 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the sale, the chief executive officer directly owned 278,524 shares in the company, valued at approximately $110,016,980. This trade represents a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% decrease in their ownership of the stock. 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 ninety days, insiders have sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Price Performance

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 company’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 fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm has a market cap of $87.86 billion, a price-to-earnings ratio of 63.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The company 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%.Cadence Design Systems’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm 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. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

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.