Saudi Central Bank Increases Holdings in Cadence Design Systems, Inc. $CDNS

Saudi Central Bank lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 92.4% during the second quarter, HoldingsChannel.com reports. The firm owned 19,326 shares of the software maker’s stock after purchasing an additional 9,279 shares during the quarter. Saudi Central Bank’s holdings in Cadence Design Systems were worth $7,253,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after purchasing an additional 92,152 shares during the period. Van ECK Associates Corp increased its holdings in shares of Cadence Design Systems by 21.8% in the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock worth $1,835,227,000 after purchasing an additional 874,392 shares during the period. Norges Bank purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth $1,352,922,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cadence Design Systems by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock worth $1,270,704,000 after buying an additional 48,937 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CDNS shares. Stifel Nicolaus lifted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler raised their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Robert W. Baird increased their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $292.70 on Friday. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The stock has a market capitalization of $80.61 billion, a price-to-earnings ratio of 58.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. The company has a fifty day moving average of $341.57 and a 200-day moving average of $333.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The company 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 firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Equities research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the transaction, the vice president directly owned 31,720 shares in the company, valued at $10,753,080. This trade represents a 0.88% decrease in their position. The transaction 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, Director James Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred 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 transaction, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. This trade represents a 6.10% 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. Insiders sold a total of 7,221 shares of company stock worth $2,570,606 over the last three months. Corporate insiders own 0.49% of the company’s stock.

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.