Libra Wealth LLC Takes Position in Cadence Design Systems, Inc. $CDNS

Libra Wealth LLC bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,683 shares of the software maker’s stock, valued at approximately $632,000. Cadence Design Systems makes up approximately 0.2% of Libra Wealth LLC’s holdings, making the stock its 29th biggest position.

Several other hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its stake in 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 purchasing an additional 84 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems in the 4th quarter worth approximately $28,000. Swiss RE Ltd. bought a new position in Cadence Design Systems in the 4th quarter worth approximately $29,000. Finally, Imprint Wealth LLC purchased a new stake in Cadence Design Systems during the 3rd quarter valued at approximately $31,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 0.3%

Shares of CDNS opened at $324.82 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market cap of $89.45 billion, a P/E ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $360.72 and its 200-day simple moving average is $331.06.

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. 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%. The business’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. 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, analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the transaction, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the company’s 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 approximately $8,871,493.76. This represents a 6.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 140,557 shares of company stock valued at $54,631,737 over the last quarter. Corporate insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of several research analyst reports. Oppenheimer reiterated a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup 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. Weiss Ratings upgraded Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Wells Fargo & Company increased their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Bank of America increased their price target 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. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently 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.