Wealthfront Advisers LLC Buys New Shares in Cadence Design Systems, Inc. $CDNS

Wealthfront Advisers LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, HoldingsChannel reports. The fund purchased 34,030 shares of the software maker’s stock, valued at approximately $12,772,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. M.D. Sass LLC bought a new position in shares of Cadence Design Systems during the 2nd quarter worth about $4,837,000. JLB & Associates Inc. bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $507,000. Meeder Advisory Services Inc. bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $3,510,000. Meeder Asset Management Inc. acquired a new stake in Cadence Design Systems during the second quarter worth about $79,000. Finally, Tiemann Investment Advisors LLC bought a new position in Cadence Design Systems during the second quarter valued at about $347,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CDNS. Robert W. Baird upped their price target on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup raised their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $316.52 on Wednesday. The firm has a market capitalization of $87.17 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The firm has a 50-day moving average price of $357.82 and a 200 day moving average price of $331.13.

Cadence Design Systems (NASDAQ:CDNS) last released 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. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. 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. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the transaction, the vice president directly owned 32,181 shares in the company, valued at $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction 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 transaction, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. The trade was a 6.10% 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 139,486 shares of company stock worth $54,262,177 over the last three months. 0.49% of the stock is currently owned by insiders.

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.