2,578 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Compass Financial Management LLC

Compass Financial Management LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,578 shares of the software maker’s stock, valued at approximately $878,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new stake in Cadence Design Systems in the 2nd quarter worth approximately $1,384,000. Greenland Capital Management LP bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth approximately $985,000. Alta Advisers Ltd purchased a new position in shares of Cadence Design Systems during the second quarter valued at approximately $403,000. Daiichi Life Insurance Co. Ltd. bought a new position in shares of Cadence Design Systems during the second quarter valued at approximately $13,949,000. Finally, Commerce Bank purchased a new stake in Cadence Design Systems in the second quarter worth $8,746,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Bank of America increased their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler raised their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.69.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the transaction, the vice president directly owned 124,586 shares of the company’s stock, valued at approximately $40,281,145.52. This represents a 1.58% decrease in their position. 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. In the last 90 days, insiders sold 89,599 shares of company stock valued at $35,710,627. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $319.02 on Monday. The firm has a market capitalization of $87.85 billion, a P/E ratio of 63.42, a PEG ratio of 3.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company’s 50-day simple moving average is $353.70 and its 200 day simple moving average is $331.55.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. 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 fiscal year.

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.