3,546 Shares in Cadence Design Systems, Inc. $CDNS Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,546 shares of the software maker’s stock, valued at approximately $1,323,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $1,352,922,000. J. Stern & Co. LLP increased its position in shares of 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 worth $923,129,000 after acquiring an additional 2,924,470 shares during the period. Wellington Management Group LLP raised its stake in shares of Cadence Design Systems by 218.6% during the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after acquiring an additional 1,751,927 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $607,350,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Cadence Design Systems by 232.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker’s stock worth $397,521,000 after purchasing an additional 999,862 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CDNS. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Wall Street Zen raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Rosenblatt Securities raised their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction dated 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 sale, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 stock in a transaction dated Thursday, June 11th. The shares were 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 in the company, valued at $8,871,493.76. This represents a 6.10% 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. Insiders have sold a total of 139,486 shares of company stock worth $54,262,177 over the last three months. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $323.47 on Tuesday. The company has a 50 day moving average price of $359.31 and a 200 day moving average price of $331.16. The firm has a market capitalization of $89.08 billion, a P/E ratio of 64.31, a PEG ratio of 3.49 and a beta of 1.15. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. 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 issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $1.65 EPS. Cadence Design Systems’s revenue for the quarter was up 24.2% compared to the same quarter last year. 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. Sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

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.