Kelleher Financial Advisors Takes Position in Cadence Design Systems, Inc. $CDNS

Kelleher Financial Advisors purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,692 shares of the software maker’s stock, valued at approximately $635,000.

Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Cadence Design Systems during the 2nd quarter valued at $661,000. Avalon Trust Co purchased a new position in shares of Cadence Design Systems during the second quarter valued at $30,000. Clearstead Trust LLC purchased a new position in shares of Cadence Design Systems during the second quarter valued at $745,000. Maridea Wealth Management LLC bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $3,058,000. Finally, Libra Wealth LLC bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $632,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $324.82 on Friday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The stock’s 50-day moving average is $360.72 and its 200 day moving average is $331.06. The company has a market cap of $89.45 billion, a P/E ratio of 64.58, a PEG ratio of 3.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. 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. Research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the transaction, the vice president owned 126,586 shares in the company, valued at $49,495,126. The trade was a 1.56% decrease in their position. 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, VP Paul Scannell sold 7,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This trade represents a 18.04% 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 90 days, insiders have sold 140,557 shares of company stock worth $54,631,737. 0.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CDNS. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Bank of America boosted 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. Robert W. Baird upped their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, 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 note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $405.69.

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.