Cadence Design Systems, Inc. $CDNS Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lessened its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 44.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,382 shares of the software maker’s stock after selling 5,116 shares during the period. Baker Avenue Asset Management LP’s holdings in Cadence Design Systems were worth $1,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CDNS. MidAtlantic Capital Management Inc. acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth about $32,000. Huntington National Bank increased its holdings in Cadence Design Systems by 8.5% in the 4th quarter. Huntington National Bank now owns 4,279 shares of the software maker’s stock worth $1,338,000 after buying an additional 334 shares during the period. Arista Wealth Management LLC raised its position in Cadence Design Systems by 17.9% during the 4th quarter. Arista Wealth Management LLC now owns 9,165 shares of the software maker’s stock worth $2,865,000 after buying an additional 1,394 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Cadence Design Systems by 5.6% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,267 shares of the software maker’s stock valued at $396,000 after acquiring an additional 67 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in Cadence Design Systems by 9.9% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,430 shares of the software maker’s stock valued at $447,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares in the company, valued at $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the completion of the sale, the director directly owned 7,470 shares in the company, valued at $2,203,874.10. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 93,138 shares of company stock worth $32,492,540 in the last three months. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Down 0.1%

Cadence Design Systems stock opened at $373.85 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The business has a 50 day simple moving average of $319.52 and a 200-day simple moving average of $312.37. The stock has a market capitalization of $103.12 billion, a PE ratio of 87.14, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $383.80.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $1.57 earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CDNS. Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Rosenblatt Securities restated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research report on Wednesday. Finally, Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.41.

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.