Clear Harbor Asset Management LLC Purchases Shares of 14,754 Cadence Design Systems, Inc. $CDNS

Clear Harbor Asset Management LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,754 shares of the software maker’s stock, valued at approximately $5,537,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Norges Bank bought a new stake in shares of Cadence Design Systems in the 4th quarter worth about $1,352,922,000. J. Stern & Co. LLP increased its position in shares of Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cadence Design Systems by 218.6% during the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after purchasing an additional 1,751,927 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Cadence Design Systems in the second quarter valued at about $607,350,000. Finally, Deutsche Bank AG acquired a new position in Cadence Design Systems in the second quarter valued at about $532,338,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $319.02 on Friday. The business’s 50-day simple moving average is $353.70 and its 200 day simple moving average is $331.25. The stock has a market cap of $87.85 billion, a price-to-earnings ratio of 63.42, a P/E/G ratio of 3.42 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. 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 (NASDAQ:CDNS) last announced its quarterly earnings data 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 return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the business posted $1.65 EPS. The company’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. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% 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. Insiders sold a total of 89,599 shares of company stock valued at $35,710,627 over the last 90 days. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CDNS. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Rosenblatt Securities boosted their target price on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company increased their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Citigroup raised their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen 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, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average 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.