Nicholas Investment Partners LP Buys Shares of 14,855 Cadence Design Systems, Inc. $CDNS

Nicholas Investment Partners LP bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,855 shares of the software maker’s stock, valued at approximately $5,575,000.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC raised its holdings 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 valued at $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. boosted 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 purchasing an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Cadence Design Systems in the fourth quarter worth $28,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems during the fourth quarter worth $29,000. Finally, Avalon Trust Co acquired a new position in Cadence Design Systems during the second quarter worth $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 1.0%

Cadence Design Systems stock opened at $315.92 on Tuesday. The firm has a market cap of $87.00 billion, a price-to-earnings ratio of 62.81, a P/E/G ratio of 3.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. 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 fifty day moving average price of $352.12 and a two-hundred day moving average price of $331.88.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for 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%.The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business 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, analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Activity

In other news, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the transaction, the vice president directly owned 124,586 shares in the company, valued at $40,281,145.52. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred 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 directly owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This represents 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. Insiders have sold 89,599 shares of company stock worth $35,710,627 over the last 90 days. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CDNS shares. Rosenblatt Securities boosted their price target on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Stifel Nicolaus boosted their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Company 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.