Oak Associates Ltd. OH Acquires New Stake in Cadence Design Systems, Inc. $CDNS

Oak Associates Ltd. OH bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 25,584 shares of the software maker’s stock, valued at approximately $7,109,000.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after acquiring an additional 80 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in Cadence Design Systems in the 2nd quarter valued at about $205,000. NewEdge Advisors LLC lifted its stake in Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after purchasing an additional 9,807 shares in the last quarter. Finally, Glenview Trust co acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $226,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent research reports. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. KeyCorp boosted their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Piper Sandler upped their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Benchmark started coverage on Cadence Design Systems in a research note on Wednesday, July 15th. They issued a “buy” rating and a $450.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In related news, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $370.00, for a total value of $19,198,190.00. Following the sale, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. The trade was a 14.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the sale, the vice president owned 126,586 shares in the company, valued at approximately $49,495,126. This trade represents a 1.56% 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. Over the last quarter, insiders have sold 157,057 shares of company stock worth $60,272,277. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 1.9%

Shares of NASDAQ CDNS opened at $330.46 on Friday. The company has a market capitalization of $91.15 billion, a P/E ratio of 77.03, a P/E/G ratio of 3.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The company has a 50 day simple moving average of $374.34 and a 200-day simple moving average of $329.29. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, equities research analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

About Cadence Design Systems

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.