Cadence Design Systems, Inc. $CDNS Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 38.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,049 shares of the software maker’s stock after purchasing an additional 25,944 shares during the period. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $34,923,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CDNS. Norges Bank acquired a new stake in Cadence Design Systems during the 4th quarter valued at $1,352,922,000. J. Stern & Co. LLP increased its stake in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after buying an additional 2,924,470 shares during the period. Legal & General Group Plc acquired a new position in Cadence Design Systems in the 2nd quarter worth $702,615,000. Jupiter Topco LLC acquired a new position in Cadence Design Systems in the 2nd quarter worth $688,746,000. Finally, Bank of New York Mellon Corp purchased a new position in Cadence Design Systems in the 2nd quarter valued at about $607,350,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 2.0%

Shares of CDNS stock traded up $6.14 during trading hours on Wednesday, hitting $309.09. 3,589,180 shares of the company were exchanged, compared to its average volume of 2,467,552. The stock has a market capitalization of $85.12 billion, a price-to-earnings ratio of 61.45, a P/E/G ratio of 3.16 and a beta of 1.14. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The business’s 50-day simple moving average is $319.82 and its two-hundred day simple moving average is $333.13. 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 (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, beating the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Cadence Design Systems’s revenue for the quarter 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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total transaction of $51,391.80. Following the completion of the sale, the director owned 7,824 shares in the company, valued at $2,233,830.24. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $277.12, for a total transaction of $554,240.00. Following the sale, the vice president directly owned 121,793 shares in the company, valued at $33,751,276.16. This trade represents a 1.62% 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 a total of 5,710 shares of company stock valued at $1,748,292 over the last 90 days. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. FBN Securities started coverage on Cadence Design Systems in a report on Friday, September 11th. They set an “outperform” rating and a $375.00 price objective on the stock. Finally, Piper Sandler upped their target price on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $403.88.

Cadence Design Systems Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.