The Manufacturers Life Insurance Company Takes Position in Cadence Design Systems, Inc. $CDNS

The Manufacturers Life Insurance Company purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 237,878 shares of the software maker’s stock, valued at approximately $89,280,000.

Several other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its position in Cadence Design Systems by 933.3% in 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 last quarter. Brown Lisle Cummings Inc. raised its position in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after acquiring 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 fourth quarter worth $28,000. Swiss RE Ltd. acquired a new position in shares of Cadence Design Systems during the fourth quarter valued at $29,000. Finally, Avalon Trust Co acquired a new position in shares of Cadence Design Systems during the second quarter valued at $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $331.90 on Wednesday. The company has a market capitalization of $91.40 billion, a price-to-earnings ratio of 65.98, a P/E/G ratio of 3.39 and a beta of 1.15. The firm’s 50 day simple moving average is $351.00 and its 200 day simple moving average is $332.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results 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. The company had revenue of $1.58 billion for 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 for the quarter was up 24.2% compared to the same quarter last year. During the same period last 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. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the transaction, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the sale, the vice president owned 32,181 shares of the company’s stock, valued at $12,676,417.71. This trade represents a 18.04% 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 have sold 89,599 shares of company stock worth $35,710,627 over the last 90 days. 0.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CDNS has been the subject of a number of research reports. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Oppenheimer reiterated a “market perform” rating and set a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.