Public Employees Retirement System of Ohio Purchases New Holdings in Cadence Design Systems, Inc. $CDNS

Public Employees Retirement System of Ohio acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 107,959 shares of the software maker’s stock, valued at approximately $40,519,000.

Several other large investors have also recently bought and sold shares of the company. MASTERINVEST Kapitalanlage GmbH bought a new position in Cadence Design Systems in the 2nd quarter valued at $2,389,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Cadence Design Systems during the second quarter worth $159,880,000. Proficio Capital Partners LLC acquired a new position in shares of Cadence Design Systems during the second quarter valued at $978,000. Pure Financial Advisors LLC acquired a new position in shares of Cadence Design Systems during the second quarter valued at $326,000. Finally, Transamerica Financial Advisors LLC bought a new position in Cadence Design Systems in the second quarter valued at about $303,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 2.1%

Shares of NASDAQ:CDNS opened at $340.39 on Friday. The company has a 50 day moving average price of $348.17 and a two-hundred day moving average price of $333.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The company has a market capitalization of $93.74 billion, a PE ratio of 67.67, a PEG ratio of 3.73 and a beta of 1.15. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the firm 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. Analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 51,822 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the sale, the chief executive officer owned 278,524 shares of the company’s stock, valued at approximately $110,016,980. This trade represents a 15.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. This trade represents a 18.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 91,129 shares of company stock valued at $36,206,647. 0.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

CDNS has been the subject of a number of research reports. Citigroup lifted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Bank of America increased their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.