Wellington Management Group LLP Sells 20,895 Shares of Cadence Design Systems, Inc. $CDNS

Wellington Management Group LLP trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,880,334 shares of the software maker’s stock after selling 20,895 shares during the quarter. Wellington Management Group LLP’s holdings in Cadence Design Systems were worth $1,831,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after purchasing an additional 31 shares in the last quarter. Westfuller Advisors LLC grew its position in Cadence Design Systems by 8.2% in the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Cadence Design Systems by 32.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after purchasing an additional 32 shares in the last quarter. KCM Investment Advisors LLC increased its stake in Cadence Design Systems by 0.4% in the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after buying an additional 32 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in Cadence Design Systems by 2.6% in the 2nd quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker’s stock valued at $486,000 after buying an additional 33 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research analyst reports. Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Finally, Oppenheimer restated a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed 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, Director James D. Plummer sold 1,511 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This represents 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 sold 91,129 shares of company stock valued at $36,206,647 in the last quarter. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 2.1%

CDNS opened at $340.39 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $93.74 billion, a price-to-earnings ratio of 67.67, a PEG ratio of 3.73 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company’s 50-day moving average price is $348.17 and its two-hundred day moving average price is $333.27.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results 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 net margin of 23.60% and a return on equity of 27.98%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $1.65 EPS. The company’s revenue 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. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Cadence Design Systems Company 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.