Cadence Design Systems, Inc. $CDNS Stock: Frank Rimerman Advisors LLC Raises Stake

Frank Rimerman Advisors LLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 256.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,892 shares of the software maker’s stock after acquiring an additional 12,873 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Cadence Design Systems were worth $5,908,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp raised its stake in Cadence Design Systems by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after acquiring an additional 874,392 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Cadence Design Systems by 1.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after purchasing an additional 48,937 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Cadence Design Systems by 1,097.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,818,141 shares of the software maker’s stock worth $930,522,000 after purchasing an additional 2,582,812 shares during the period. Legal & General Group Plc bought a new position in Cadence Design Systems during the second quarter worth $702,615,000. Finally, Jupiter Topco LLC acquired a new position in shares of Cadence Design Systems in the second quarter valued at $688,746,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the completion of the sale, the director owned 7,824 shares in the company, valued at $2,233,830.24. The trade was a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $350.07, for a total transaction of $437,587.50. Following the completion of the sale, the director directly owned 39,544 shares of the company’s stock, valued at $13,843,168.08. This represents a 3.06% 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. Over the last ninety days, insiders have sold 8,960 shares of company stock valued at $2,834,139. 0.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CDNS. Piper Sandler increased their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Cadence Design Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Bank of America increased their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $404.14.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $319.51 on Friday. 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 stock’s fifty day moving average price is $318.85 and its two-hundred day moving average price is $338.84. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm has a market cap of $87.99 billion, a price-to-earnings ratio of 63.52, a P/E/G ratio of 3.42 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business earned $1.65 EPS. The company’s quarterly revenue 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. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 6.41 EPS for the current year.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.