First Trust Advisors LP Sells 104,187 Shares of Cadence Design Systems, Inc. $CDNS

First Trust Advisors LP lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 497,625 shares of the software maker’s stock after selling 104,187 shares during the quarter. First Trust Advisors LP’s holdings in Cadence Design Systems were worth $138,275,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its holdings in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Cadence Design Systems in the fourth quarter valued at approximately $28,000. Swiss RE Ltd. bought a new stake in Cadence Design Systems during the fourth quarter valued at approximately $29,000. Finally, Lodestone Wealth Management LLC bought a new stake in Cadence Design Systems during the fourth quarter valued at approximately $30,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $330.46 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. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The company has a market cap of $91.15 billion, a P/E ratio of 77.03, a price-to-earnings-growth ratio of 3.99 and a beta of 1.15. The stock’s fifty day moving average price is $374.34 and its 200-day moving average price is $329.29.

Cadence Design Systems (NASDAQ:CDNS) last posted its 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 return on equity of 28.44% and a net margin of 21.18%.Cadence Design Systems’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 earnings per share. 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, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the sale, the vice president directly owned 126,586 shares in the company, valued at $49,495,126. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 157,057 shares of company stock valued at $60,272,277 in the last quarter. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CDNS. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. KeyCorp increased their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Thursday, July 2nd. Finally, Benchmark initiated coverage on Cadence Design Systems in a research note on Wednesday, July 15th. They issued a “buy” rating and a $450.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

Cadence Design Systems Company 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.