23,302 Shares in Cadence Design Systems, Inc. $CDNS Bought by Commerce Bank

Commerce Bank acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 23,302 shares of the software maker’s stock, valued at approximately $8,746,000.

A number of other hedge funds have also recently modified their holdings of the business. Whipplewood Advisors LLC boosted its stake in Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Cadence Design Systems in the 4th quarter worth approximately $28,000. Swiss RE Ltd. purchased a new position in Cadence Design Systems in the 4th quarter worth approximately $29,000. Finally, Avalon Trust Co bought a new position in Cadence Design Systems in the 2nd quarter valued at approximately $30,000. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CDNS shares. Bank of America increased their target price 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. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Wells Fargo & Company upped their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Piper Sandler increased their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, Citigroup lifted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average price target of $405.69.

Insider Buying and Selling

In related news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the transaction, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,822 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $395.00, for a total value of $20,469,690.00. Following the sale, the chief executive officer directly owned 278,524 shares of the company’s stock, valued at $110,016,980. This represents a 15.69% 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 in the last quarter. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $319.02 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. 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 cap of $87.85 billion, a P/E ratio of 63.42, a P/E/G ratio of 3.42 and a beta of 1.15. The company has a 50 day simple moving average of $353.70 and a two-hundred day simple moving average of $331.55.

Cadence Design Systems (NASDAQ:CDNS) last issued 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. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company posted $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. On average, research 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.