Wellington Management Group LLP Reduces Position in Cadence Design Systems, Inc. $CDNS

Wellington Management Group LLP lowered its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,880,334 shares of the software maker’s stock after selling 20,895 shares during the period. Wellington Management Group LLP owned about 1.77% of Cadence Design Systems worth $1,831,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. George Kaiser Family Foundation bought a new stake in Cadence Design Systems in the second quarter worth approximately $725,000. MUFG Securities EMEA plc boosted its holdings in shares of Cadence Design Systems by 113.9% during the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after buying an additional 5,943 shares in the last quarter. Sun Financial Inc acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $1,225,000. Leonteq Securities AG acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $1,105,000. Finally, Indivisible Partners bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at $4,795,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Bank of America upped their price objective 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. Oppenheimer reissued a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Citigroup raised their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $405.69.

Cadence Design Systems Price Performance

Shares of CDNS opened at $340.39 on Friday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business’s fifty day moving average is $348.17 and its 200 day moving average is $333.27. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $93.74 billion, a P/E ratio of 67.67, a P/E/G ratio of 3.73 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Cadence Design Systems’s quarterly revenue was up 24.2% on a year-over-year basis. 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 anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the sale, the vice president directly owned 124,586 shares of the company’s stock, valued at $40,281,145.52. The trade was a 1.58% decrease in their ownership of the stock. The transaction 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, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction 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 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. Over the last three months, insiders sold 91,129 shares of company stock valued at $36,206,647. 0.49% of the stock is currently owned by insiders.

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.