Connor Clark & Lunn Investment Management Ltd. Buys Shares of 144,739 Cadence Design Systems, Inc. $CDNS

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The firm bought 144,739 shares of the software maker’s stock, valued at approximately $54,323,000.

Other institutional investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $548,000. Benchmark Investment Advisors LLC acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $404,000. Clear Harbor Asset Management LLC bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $5,537,000. Bank of Nova Scotia bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $29,521,000. Finally, Kirtland Hills Capital Management LLC acquired a new position in Cadence Design Systems during the second quarter valued at approximately $231,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDNS has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research note 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 report on Thursday, July 30th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a report on Wednesday, May 27th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Bank of America raised their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.69.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the sale, the vice president owned 124,586 shares of the company’s stock, valued at $40,281,145.52. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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 transaction, the vice president directly owned 32,181 shares of the company’s stock, valued at $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $319.02 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company’s 50 day moving average price is $353.70 and its two-hundred day moving average price is $331.55. The company has a market capitalization of $87.85 billion, a P/E ratio of 63.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share 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 analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The business’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. On average, 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.