14,237 Shares in Cadence Design Systems, Inc. $CDNS Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,237 shares of the software maker’s stock, valued at approximately $5,343,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avalon Trust Co purchased a new position in Cadence Design Systems in the second quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems during the fourth quarter valued at about $28,000. Arlington Trust Co LLC boosted its holdings in shares of Cadence Design Systems by 154.3% in the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. Imprint Wealth LLC purchased a new position in shares of Cadence Design Systems in the 3rd quarter worth approximately $31,000. Finally, Whipplewood Advisors LLC raised its stake in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 1.0%

Shares of Cadence Design Systems stock opened at $315.92 on Tuesday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The firm’s 50 day simple moving average is $352.12 and its two-hundred day simple moving average is $331.88. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $87.00 billion, a price-to-earnings ratio of 62.81, a PEG ratio of 3.42 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This represents a 6.10% 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. In the last quarter, insiders have sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent analyst reports. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Weiss Ratings upgraded Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler boosted their target price on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Finally, Bank of America upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.