TD Waterhouse Canada Inc. Decreases Stock Holdings in Cadence Design Systems, Inc. $CDNS

TD Waterhouse Canada Inc. lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 49.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,882 shares of the software maker’s stock after selling 6,732 shares during the period. TD Waterhouse Canada Inc.’s holdings in Cadence Design Systems were worth $2,600,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CDNS. State Street Corp lifted its stake in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after buying an additional 92,152 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after buying an additional 874,392 shares during the period. Norges Bank purchased a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $1,352,922,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cadence Design Systems by 1.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock worth $1,270,704,000 after acquiring an additional 48,937 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Shares of CDNS opened at $292.70 on Tuesday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. 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 cap of $80.61 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 3.14 and a beta of 1.14. The stock has a 50 day moving average of $339.97 and a 200-day moving average of $334.12.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 24.2% on a year-over-year basis. 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 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Albert Sangiovanni-Vincentelli sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total value of $401,100.00. Following the sale, the director owned 40,794 shares in the company, valued at $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. 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 quarter, insiders have sold 7,221 shares of company stock worth $2,570,606. 0.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Bank of America raised their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Finally, Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus 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.