NBH Bank Buys Shares of 5,158 Cadence Design Systems, Inc. $CDNS

NBH Bank bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,158 shares of the software maker’s stock, valued at approximately $1,936,000. Cadence Design Systems makes up about 0.8% of NBH Bank’s investment portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC increased its stake in Cadence Design Systems by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after purchasing an additional 92,152 shares in the last quarter. Van ECK Associates Corp raised its holdings in Cadence Design Systems by 21.8% during 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 last quarter. Norges Bank purchased a new position in shares of Cadence Design Systems in the fourth quarter valued at $1,352,922,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cadence Design Systems by 1.5% during the 2nd 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 during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Down 4.0%

Shares of NASDAQ:CDNS opened at $292.70 on Friday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The stock’s 50-day moving average price is $341.57 and its two-hundred day moving average price is $333.81. The firm has a market cap of $80.61 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 3.27 and a beta of 1.14. 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 (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during 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%. Cadence Design Systems’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. 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 forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Scannell sold 280 shares of the business’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 of the company’s stock, valued at approximately $10,753,080. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the business’s 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,221 shares of company stock worth $2,570,606. Corporate insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Benchmark restated a “buy” 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 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $405.69.

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.