Green Alpha Advisors LLC Purchases New Stake in Cadence Design Systems, Inc. $CDNS

Green Alpha Advisors LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,761 shares of the software maker’s stock, valued at approximately $1,036,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC boosted its stake in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $28,000. Swiss RE Ltd. acquired a new stake in Cadence Design Systems during the 4th quarter valued at approximately $29,000. Finally, Avalon Trust Co acquired a new stake in shares of Cadence Design Systems during the second quarter worth $30,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Up 1.7%

Cadence Design Systems stock opened at $319.02 on Friday. The firm’s fifty day moving average price is $353.70 and its 200-day moving average price is $331.25. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The stock has a market cap of $87.86 billion, a P/E ratio of 63.42, a PEG ratio of 3.36 and a beta of 1.15. 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 issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Cadence Design Systems’s 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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CDNS shares. Bank of America lifted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Oppenheimer reaffirmed a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 7,081 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares in the company, valued at approximately $12,676,417.71. This trade represents a 18.04% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. This trade represents a 8.98% 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 a total of 89,599 shares of company stock valued at $35,710,627 over the last three months. 0.49% of the stock is currently owned by company 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.