QRG Capital Management Inc. Raises Stake in Cadence Design Systems, Inc. $CDNS

QRG Capital Management Inc. increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 38.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,049 shares of the software maker’s stock after buying an additional 25,944 shares during the period. QRG Capital Management Inc.’s holdings in Cadence Design Systems were worth $34,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC increased its stake in Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. boosted its stake in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Cadence Design Systems in the 4th quarter worth about $28,000. Avalon Trust Co purchased a new stake in Cadence Design Systems in the 2nd quarter valued at about $30,000. Finally, Fiduciary Financial Advisors purchased a new stake in Cadence Design Systems in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 2.0%

Shares of Cadence Design Systems stock traded up $6.14 during trading hours on Wednesday, reaching $309.09. The stock had a trading volume of 3,589,180 shares, compared to its average volume of 2,467,552. The firm has a 50 day simple moving average of $319.82 and a two-hundred day simple moving average of $333.13. The firm has a market capitalization of $85.12 billion, a price-to-earnings ratio of 61.45, a P/E/G ratio of 3.16 and a beta of 1.14. 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 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion during 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 company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $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 research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita Brennan sold 180 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the transaction, the director owned 7,824 shares of the company’s stock, valued at approximately $2,233,830.24. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total transaction of $554,240.00. Following the transaction, the vice president owned 121,793 shares in the company, valued at $33,751,276.16. The trade was a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,710 shares of company stock valued at $1,748,292 in the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CDNS shares. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Oppenheimer reaffirmed 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. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $403.88.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.