Montag A & Associates Inc. Sells 1,985 Shares of Cadence Design Systems, Inc. $CDNS

Montag A & Associates Inc. trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 38.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,206 shares of the software maker’s stock after selling 1,985 shares during the quarter. Montag A & Associates Inc.’s holdings in Cadence Design Systems were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Addison Capital Co grew its holdings in shares of Cadence Design Systems by 13.0% during the first quarter. Addison Capital Co now owns 2,209 shares of the software maker’s stock worth $614,000 after purchasing an additional 254 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of Cadence Design Systems by 9.8% in the first quarter. Resonant Capital Advisors LLC now owns 1,572 shares of the software maker’s stock worth $437,000 after purchasing an additional 140 shares during the last quarter. United Asset Strategies Inc. raised its stake in Cadence Design Systems by 58.2% in the first quarter. United Asset Strategies Inc. now owns 8,055 shares of the software maker’s stock valued at $2,238,000 after purchasing an additional 2,962 shares in the last quarter. Westfuller Advisors LLC raised its stake in Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after purchasing an additional 31 shares in the last quarter. Finally, Appleton Partners Inc. MA lifted its position in Cadence Design Systems by 1.5% during the first quarter. Appleton Partners Inc. MA now owns 38,928 shares of the software maker’s stock valued at $10,817,000 after purchasing an additional 563 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Up 0.8%

Shares of NASDAQ CDNS opened at $374.06 on Thursday. The stock has a market capitalization of $103.17 billion, a P/E ratio of 87.19, a PEG ratio of 4.39 and a beta of 1.15. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm’s 50 day simple moving average is $372.53 and its two-hundred day simple moving average is $326.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.57 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. 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 expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Thursday, July 2nd. Robert W. Baird upped their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus increased their target price on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Fourteen research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.59.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This trade represents a 8.98% 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 a total of 178,557 shares of company stock valued at $66,925,452 over the last three months. 0.49% of the stock is currently owned by company 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.