Saudi Central Bank Has $7.25 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Saudi Central Bank lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 92.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,326 shares of the software maker’s stock after acquiring an additional 9,279 shares during the period. Saudi Central Bank’s holdings in Cadence Design Systems were worth $7,253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Compass Financial Management LLC bought a new stake in Cadence Design Systems during the 2nd quarter worth approximately $968,000. NBH Bank bought a new position in shares of Cadence Design Systems in the second quarter valued at approximately $1,936,000. Three Seasons Wealth LLC lifted its holdings in shares of Cadence Design Systems by 27.8% in the second quarter. Three Seasons Wealth LLC now owns 2,482 shares of the software maker’s stock valued at $932,000 after purchasing an additional 540 shares in the last quarter. Knollwood Investment Advisory LLC boosted its position in shares of Cadence Design Systems by 1.1% during the second quarter. Knollwood Investment Advisory LLC now owns 26,551 shares of the software maker’s stock valued at $9,965,000 after buying an additional 278 shares during the last quarter. Finally, Syon Capital LLC grew its holdings in Cadence Design Systems by 8.1% during the second quarter. Syon Capital LLC now owns 9,201 shares of the software maker’s stock worth $3,453,000 after buying an additional 691 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a 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. Piper Sandler increased their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Citigroup raised their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $292.70 on Friday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $341.57 and its 200 day simple moving average is $333.81. The company has a market cap of $80.61 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 3.14 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.Cadence Design Systems’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned $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. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, Director Ita Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Plummer sold 1,511 shares of the business’s 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 sale, the director 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 7,221 shares of company stock worth $2,570,606 in the last three months. Corporate insiders own 0.49% of the company’s stock.

About Cadence Design Systems

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.