Northwestern Mutual Wealth Management Co. Buys 3,540 Shares of Cadence Design Systems, Inc. $CDNS

Northwestern Mutual Wealth Management Co. increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 22.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,533 shares of the software maker’s stock after purchasing an additional 3,540 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cadence Design Systems were worth $7,331,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its holdings in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares during the period. Brown Lisle Cummings Inc. boosted its position in 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. bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Swiss RE Ltd. bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $29,000. Finally, Avalon Trust Co purchased a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $30,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Down 2.0%

CDNS stock opened at $306.67 on Thursday. The business’s 50-day moving average price is $344.53 and its 200-day moving average price is $334.07. The stock has a market cap of $84.45 billion, a P/E ratio of 60.97, a PEG ratio of 3.36 and a beta of 1.14. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm’s quarterly 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, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Transactions at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the transaction, the director owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $646,640.00. Following the completion of the sale, the vice president owned 124,586 shares of the company’s stock, valued at $40,281,145.52. The trade was a 1.58% 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. Over the last quarter, insiders sold 7,221 shares of company stock valued at $2,570,606. Company insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Oppenheimer reiterated a “market perform” rating and set a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

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.