Varma Mutual Pension Insurance Co Makes New Investment in Cadence Design Systems, Inc. $CDNS

Varma Mutual Pension Insurance Co purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 48,649 shares of the software maker’s stock, valued at approximately $18,259,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Cadence Design Systems during the 4th quarter worth about $1,352,922,000. J. Stern & Co. LLP increased its stake in Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after acquiring an additional 2,924,470 shares during the period. Wellington Management Group LLP increased its stake in Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after acquiring an additional 1,751,927 shares during the period. Bank of New York Mellon Corp bought a new stake in Cadence Design Systems in the second quarter valued at about $607,350,000. Finally, Deutsche Bank AG acquired a new position in Cadence Design Systems in the second quarter worth about $532,338,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of analyst reports. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup upped their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Rosenblatt Securities increased their target price on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Robert W. Baird raised their target price on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Cadence Design Systems Trading Up 1.7%

Shares of Cadence Design Systems stock opened at $319.02 on Friday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The stock has a market capitalization of $87.85 billion, a P/E ratio of 63.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15. The company has a 50-day simple moving average of $353.70 and a 200 day simple moving average of $331.25. 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 (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Research analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,822 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the transaction, the chief executive officer owned 278,524 shares of the company’s stock, valued at approximately $110,016,980. The trade was a 15.69% 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 this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $2,789,276.71. Following the sale, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. The trade was a 18.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 89,599 shares of company stock worth $35,710,627 over the last ninety days. 0.49% of the stock is owned by insiders.

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.