Thornburg Investment Management Inc. Raises Position in Cadence Design Systems, Inc. $CDNS

Thornburg Investment Management Inc. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 258.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,375 shares of the software maker’s stock after acquiring an additional 5,317 shares during the period. Thornburg Investment Management Inc.’s holdings in Cadence Design Systems were worth $2,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Cadence Design Systems in the fourth quarter worth $1,352,922,000. J. Stern & Co. LLP lifted its position in Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after buying an additional 2,924,470 shares during the period. Legal & General Group Plc purchased a new position in Cadence Design Systems during the second quarter valued at $702,615,000. Jupiter Topco LLC bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at $688,746,000. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 1,751,927 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the transaction, the vice president owned 124,586 shares of the company’s stock, valued at approximately $40,281,145.52. The trade was a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 91,129 shares of company stock valued at $36,206,647. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $340.39 on Friday. The business has a fifty day moving average price of $348.17 and a 200-day moving average price of $333.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The company has a market capitalization of $93.74 billion, a PE ratio of 67.67, a PEG ratio of 3.65 and a beta of 1.15. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $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, equities analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CDNS. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup boosted their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Piper Sandler raised their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Finally, Oppenheimer reissued a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.