Trillium Asset Management LLC Makes New $33.26 Million Investment in Cadence Design Systems, Inc. $CDNS

Trillium Asset Management LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel.com reports. The fund acquired 88,620 shares of the software maker’s stock, valued at approximately $33,262,000. Cadence Design Systems makes up approximately 1.0% of Trillium Asset Management LLC’s holdings, making the stock its 22nd biggest position.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC lifted its position in Cadence Design Systems by 3.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after acquiring an additional 31 shares in the last quarter. Westfuller Advisors LLC increased its holdings in Cadence Design Systems by 8.2% during the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Cadence Design Systems by 32.0% in the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after purchasing an additional 32 shares during the last quarter. KCM Investment Advisors LLC raised its stake in shares of Cadence Design Systems by 0.4% in the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 32 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Cadence Design Systems by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker’s stock valued at $486,000 after purchasing an additional 33 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the 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 transaction, the director directly owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This represents a 2.20% decrease in their position. The transaction 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 firm’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 sale, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,599 shares of company stock valued at $35,710,627 in the last three months. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Piper Sandler increased their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Thirteen equities 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 a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $313.59 on Friday. The business’s fifty day simple moving average is $355.01 and its 200 day simple moving average is $331.34. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The firm has a market capitalization of $86.36 billion, a P/E ratio of 62.34, a price-to-earnings-growth ratio of 3.38 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 EPS 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 return on equity of 27.98% and a net margin of 23.60%.The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business 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, analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

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.