Private Advisor Group LLC Has $965,000 Stake in Cadence Design Systems, Inc. $CDNS

Private Advisor Group LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 49.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,471 shares of the software maker’s stock after selling 3,427 shares during the period. Private Advisor Group LLC’s holdings in Cadence Design Systems were worth $965,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Cadence Design Systems by 3.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after acquiring an additional 31 shares in the last quarter. Spirepoint Private Client LLC increased its position in shares of Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock worth $226,000 after purchasing an additional 32 shares during the period. Townsquare Capital LLC raised its stake in Cadence Design Systems by 3.6% in the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after purchasing an additional 34 shares in the last quarter. Global Assets Advisory LLC lifted its position in Cadence Design Systems by 2.1% during the fourth quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker’s stock worth $540,000 after purchasing an additional 35 shares during the period. Finally, Triumph Capital Management lifted its position in Cadence Design Systems by 6.9% during the fourth quarter. Triumph Capital Management now owns 539 shares of the software maker’s stock worth $168,000 after purchasing an additional 35 shares during the period. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the sale, the chief executive officer owned 303,525 shares of the company’s stock, valued at $112,304,250. This trade represents a 14.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the transaction, the chief financial officer directly owned 86,875 shares of the company’s stock, valued at approximately $26,883,468.75. The trade was a 19.84% 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. Insiders sold 178,557 shares of company stock worth $66,925,452 in the last ninety days. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 1.6%

Shares of NASDAQ CDNS opened at $377.92 on Tuesday. The company has a market cap of $104.24 billion, a price-to-earnings ratio of 88.09, a PEG ratio of 4.55 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The stock has a 50-day moving average price of $375.79 and a two-hundred day moving average price of $327.44.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. 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. As a group, analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a report on Wednesday, May 27th. Piper Sandler increased their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Cadence Design Systems Profile

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.